New Delhi. The IPO of Jinka Logistics Solutions, a company providing services to truck operators, opened on November 13. Investors can invest in this issue till November 18. This means that now you have only one day left to bid for the shares of this IPO. However, Jinka Logistics Solutions IPO has received a lukewarm response from investors. Also, this issue has not been able to show its magic in the grey market as well.

On the first day, this issue was booked 24 percent. Usually, the subscription of IPO increases on the second day, but the pace of subscription of Zinka Logistics IPO was slow on the second day. On the second day, the total subscription of this issue was only 32 percent. In the retail category, it was booked only 92 percent. The QIB category was subscribed to 25 percent and the NII category was subscribed to only 4 percent.

The price band
of Zinca Logistics IPO is fixed at Rs 259-273 per share. One lot of the IPO consists of 54 shares. As per the upper price band, a retail investor will have to invest at least Rs 14742 in the IPO. About 75% of the issue is reserved for qualified institutional buyers, 10% for retail investors, and the remaining 15% for non-institutional investors.

GMP became zero
The GMP of Zinka Logistics IPO has also come down sharply. Two days before the IPO opened, the GMP of the issue was Rs 24. But, the very next day the GMP became zero rupees. This means that the grey market believes that the listing of Zinka Logistics IPO may be flat.

Should you invest or not?
Brokerage firm Anand Rathi has given a 'Subscribe' rating to the Zinka Logistics IPO. The brokerage wrote in its note, “Zinka Logistics Solutions Limited is India's largest digital platform for truck operators (in terms of number of users). 963,345 truck operators in the country have transacted on its platform in FY24. Master Capital Services has also advised to 'Subscribe' to this issue.

What will the company do with the funds?
Jinka Logistics Solutions will spend Rs 200 crore from the issue amount for sales and marketing initiatives. Also, Rs 140 crore will be used to invest in Blackbuck Finserv, while Rs 75 crore will be used to fund product development related expenses and a part will be invested in general company operations.