The Rs 1,115 crore IPO of Jinka Logistics Solutions Limited, which provides a digital platform for truck owners, has opened from November 13. It will close on November 18, 2024. If the IPO is fully subscribed at the upper price band, the company will get Rs 1,114.72 crore. The company has partnered with FASTag banks and several oil marketing companies (OMCs) to provide easy and secure tolling and fuel solutions. This generates income for the company through commission margin based on the transaction price. In the quarter ended June 2024, the company's revenue from operations was Rs 92.17 crore and profit after tax was Rs 28.67 crore.

The company said that 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional buyers and the remaining 10 per cent for retail investors.

Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Capital Services are the book-running lead managers to the issue. Zinka Logistics IPO GMP- Although the gray market premium (GMP) of Zinka Logistics IPO had increased before the issue opened, it is currently zero. Earlier, Zinka Logistics shares were trading at a premium of ₹24-25 in the unofficial market. The IPO comprises a fresh offer of up to ₹550 crore and an offer for sale of up to 2.06 crore equity shares by the promoter and investor selling shareholders. Investors can bid for a minimum of 54 equity shares in one lot and in multiples of 54 equity shares thereafter. Employees bidding in the employee portion are being offered a discount of ₹25 per equity share. Jinka Logistics' unlisted shares are trading at a premium of ₹24 in the grey market on Sunday. This is 9% higher than the IPO's upper price band of Rs 273. Ahead of the IPO opening, Jinka Logistics has raised ₹501 crore from anchor investors-Foreign and domestic institutions participating in the anchor round include Nomura, Hornbill Orchid India Fund, Steadview Capital Mauritius, TIMF Holdings, Florida Retirement System, Massachusetts Institute of Technology, Carmignac Portfolio, BNP Paribas Funds, Pinebridge Global Funds and Societe Generale. SBI MF, Invesco India, Bandhan MF, ICICI Prudential Life Insurance, Ashoka Whiteoak, SBI General Insurance and Nuvama Multi Asset Strategy Return Fund. SBI Securities: Avoid- The brokerage said in a note that if the company is able to grow the existing business and add new verticals like vehicle financing, load marketplace, etc., then the operating leverage can drive growth in the company in the next 2-3 years. However, given the expensive valuation, it has advised investors to 'avoid' the issue. Swastika Investmart: Avoid- Swastika Investmart has advised investors not to subscribe to this IPO right now. He said that the promoter's stake in the company is low, which may affect investor confidence. BP Wealth: Subscribe- The brokerage added a 'subscribe' rating to the issue, saying that given the company's strong market presence and favorable industry conditions, it offers growth potential in the medium to long term. Marwadi Financial Services: Subscribe- The brokerage has given a 'subscribe' rating to the IPO as the company has India's largest digital platform for truck operators and an omnichannel distribution network to drive sales. Also, it is available at a reasonable valuation compared to its peers. Canara Bank Securities: Subscribe for long term-