Blackbuck - Zinka Logistics Solutions IPO Details, Financials, Valuation & Peers
Explore Zinka Logistics Solutions aka Blackbuck IPO details, including IPO dates, financial statements, valuation, peer comparison and more.
Overview
Zinka Logistics Solutions Limited, operating under the brand name BlackBuck, is India’s largest digital platform for truck operators, with over 960,000 truck operators (27.5% of India’s total) actively using its services as of Fiscal 2024. BlackBuck empowers small and medium-sized truck operators through a suite of digital tools and services tailored to streamline logistical operations. The company’s platform offers services including digital tolling and fuel payments, telematics for fleet tracking, a loads marketplace for freight matching, and financing options for used commercial vehicles. BlackBuck’s comprehensive offerings enable truck operators to enhance operational efficiency, improve income, and manage their business needs more effectively.
Key Points:
- Digital Platform for Truck Operators: The BlackBuck app supports a broad user base with over 963,345 truck operators as of Fiscal 2024, enabling them to manage toll payments, fuel costs, fleet tracking, load discovery, and financing through a single digital platform.
- Fuel and Toll Payments: The app simplifies fuel and toll payments through FASTag and cashless fueling solutions, covering 72% of fuel stations nationwide. BlackBuck is India’s largest player in fuel loyalty management and toll payments by GTV.
- Telematics Services: BlackBuck provides vehicle tracking and fleet management, enabling truck operators to increase operational efficiency. The platform had an average of 356,050 monthly active telematics devices in Fiscal 2024.
- Loads Marketplace: India’s largest digital freight marketplace, with 2.12 million load postings in Fiscal 2024, allowing truck operators to find suitable loads and optimize routes.
- Vehicle Financing: The platform facilitates used vehicle financing for truck operators, with a total loan disbursement of ₹252.76 crore by June 2024.
- Omnichannel Distribution Network: With 9,374 digitally enabled touchpoints, BlackBuck serves 80% of India’s districts, ensuring robust customer support and widespread service accessibility.
Objects of the Issue
- Funding towards sales and marketing costs
- Investment in Blackbuck Finserve Private Limited, company's NBFC subsidiary, for financing the augmentation of its capital base to meet its future capital requirements
- Funding of expenditure in relation to product development
- General corporate purposes.
IPO Details
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| Fields | Details |
|---|---|
| IPO Dates | 13 Nov - 18 Nov 2024 |
| IPO Price Band | ₹259 - ₹273 per share |
| Fresh Issue | ₹550 crore |
| Offer For Sale | 20,685,800 shares (₹564.72 crore) |
| Total IPO Size | ₹1,114.72 crore |
| Face Value | ₹1 |
| Listing On | BSE, NSE |
IPO Timeline
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| Event | Date |
|---|---|
| IPO Opening Date | 13 Nov 2024 |
| IPO Closing Date | 18 Nov 2024 |
| Basis Of Allotment | 19 Nov 2024 |
| Refunds | 20 Nov 2024 |
| Demat Transfer | 20 Nov 2024 |
| IPO Listing Date | 21 Nov 2024 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Jun 2024 |
|---|---|---|---|---|
| Total Income | 156.13 | 195.09 | 316.51 | 98.33 |
| Total Expenses | 386.24 | 431.77 | 483.42 | 91.52 |
| Net Profit/Loss | -284.56 | -290.50 | -193.95 | 28.67 |
| NPM (*) | -238.41 | -165.32 | -65.31 | 31.11 |
| Total Assets | 899.68 | 654.25 | 654.32 | 629.41 |
| Total Liabilities | 314.61 | 301.59 | 343.03 | 284.43 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Jun 2024 |
|---|---|---|---|---|
| EPS | -16.51 | -15.86 | -10.52 | 1.54 |
| ROE (%) | -39.37 | -67.16 | -53.64 | 9.39 |
| ROCE (%) | -27.16 | -45.03 | -33.84 | 1.50 |
| D/E Ratio | 0.34 | 0.47 | 0.56 | 0.47 |
| Current Ratio | 2.34 | 1.98 | 1.51 | 1.83 |
| EBITDA MARGIN (%) | -126.65 | -109.22 | -43.85 | 14.77 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Zinka Logistics Solutions Limited | 296.92 | -25.95 | -10.52 | -53.64 | 16.89 |
| C.E. Info Systems Ltd | 379.42 | 92.90 | 24.58 | 0.20 | 12.09 |
| FLEETCOR Technologies, Inc | 31,328.10 | 20.20 | 1,100.48 | 0.30 | 36,78,737.81 |
| Full Truck Alliance Co. Ltd | 9,906.11 | 804.77 | 0.83 | 0.06 | 19.76 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
IPO Reservation
| Investor Type | Shares Offered |
|---|---|
| Qualified Institutional Buyer (QIB) | Not less than 75% |
| Non-Institutional Investor (NII/HNI) | Not more than 15% |
| Retail Individual Investor (RII) | Not more than 10% |
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 2.72 |
| Non-Institutional Investor (NII/HNI) | 0.24 |
| Retail Individual Investor (RII) | 1.67 |
| Total | 1.86 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
KFin Technologies Limited
Phone: +91 40 6716 2222/ 18003094001
Email: einward.ris@kfintech.com
Website: www.kfintech.com
Company Promoters
- RAJESH KUMAR NAIDU YABAJI
- CHANAKYA HRIDAYA
- RAMASUBRAMANIAN BALASUBRAMANIAM
Lead Managers
- Axis Capital Limited
- Morgan Stanley India Company Private Limited
- JM Financial Limited
- IIFL Capital Services Limited (formerly known as IIFL Securities Limited)
Company Address
Zinka Logistics Solutions Limited
Vaswani Presidio, no. 84/2, II Floor, Panathur Main Road, Kadubeesanahalli, Off Outer Ring Road, Bengaluru 560 103, Karnataka, India
Phone: +91 8046481828
Email: cs@blackbuck.com
Website: www.blackbuck.com
FAQs
- What is the issue size of the Blackbuck - Zinka Logistics Solutions IPO?The Blackbuck - Zinka Logistics Solutions IPO has an issue size of ₹1,114.72 crore. This includes a fresh issue of ₹550 crore and an offer for sale (OFS) of 20,685,800 shares (₹564.72 crore).
- What is the price band of the Blackbuck - Zinka Logistics Solutions IPO?The price band for the Blackbuck - Zinka Logistics Solutions IPO is ₹259 - ₹273 per share.
- What are the bidding dates for the Blackbuck - Zinka Logistics Solutions IPO?The Blackbuck - Zinka Logistics Solutions IPO will open for bidding on 13 Nov 2024 and close on 18 Nov 2024.
- What is the allotment date for the Blackbuck - Zinka Logistics Solutions IPO?The allotment date for the Blackbuck - Zinka Logistics Solutions IPO is 19 Nov 2024.
- What is the minimum lot size and investment required for the Blackbuck - Zinka Logistics Solutions IPO?The minimum lot size for the Blackbuck - Zinka Logistics Solutions IPO is 54 shares and the minimum investment required is ₹14,742.
- What is the listing date for the Blackbuck - Zinka Logistics Solutions IPO?The listing date for the Blackbuck - Zinka Logistics Solutions IPO is 21 Nov 2024.
- What is the Blackbuck - Zinka Logistics Solutions IPO grey market premium?The grey market premium (GMP) for the Blackbuck - Zinka Logistics Solutions IPO is currently at ₹24, with an expected listing gain of approximately 8.79%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.