Zinka’s truck with logistics tech needs a longer profit run

Zinka Logistics Solutions, which provides BlackBuck digital platform to truck operators, plans to raise Rs 550 crore through a fresh issue of equity to cover selling and marketing costs, to fund product development and to augment the capital base of its financing division. It will also raise R 565 crore through an offer for sale. The promoter stake will fall to nearly 28% after the IPO from over 34%. Among the selling investors, Accel India, which purchased shares at an average price of Rs 62.7 will reduce its stake to around 0.4% from 3.2% while Peak XV Partners (formerly Sequoia Capital India) with an average purchase price of nearly Rs 309, will reduce stake to around 1.3% from 2.2%.