Zinka Logistics shares decline over 2% after equity worth ₹692 crore changes hands
Published on 03/06/2025 09:26 AM
Zinka Logistics shares decline over 2% after equity worth ₹692 crore changes handsZinka Logistics Share Price | On Monday, CNBC-TV18 reported, citing sources that Quickroutes International was likely to divest 9% stake in Zinca Logistics Solutions Ltd.By Nimesh Shah June 3, 2025, 9:26:59 AM IST (Published)2 Min ReadAs many as 1.63 crore shares, or 9.22% equity, of Zinka Logistics Solutions worth ₹692 crore changed hands at 423 per shares.
On Monday, CNBC-TV18 reported, citing sources that Quickroutes International was likely to divest 9% stake in Zinka Logistics Solutions Ltd.
The block deal aimed at raising around ₹647 crore and the floor price was at ₹405 per share, the sources said.
As per data listed on the stock exchanges, Quickroutes International held 9.01% stake in Zinka Logistics at the end of the March quarter.
Zinka Logistics is said to be the largest digital platform, in terms of users, for truck operators. In the fiscal year 2024, as many as 963,645 truck operators, or 27.52% of India's truck operators in the country transacted on their platform.
Using the company's customers digitally manage payments for tolling and fuelling, monitor drivers and fleets using telematics, find loads on their market place and get access to financing for the purchase of used vehicles.
The company's shares listed at ₹280.9 on the NSE, reflecting a premium of 2.89% against the IPO allotment price of ₹273 on November 22, 2024.
The company sold its shares in a fixed price band of ₹259-273 per share. The IPO included a mix of fresh offer of up to ₹550 crore and an offer for sale of up to 2.06 crore equity shares by promoter and investor selling shareholders.
Zinka Logistics shares were trading 1.98% lower at ₹429 at 9.20 am on Tuesday, June 3. . The stock has declined 6.25% this year, so far.
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