Zinka IPO Subscription: Zinka's GMP down, subscription speed slowed down, know the latest updates…

Zinka IPO Subscription: The price band of Jinka Logistics Solutions IPO is Rs 259-273. The minimum lot size with one application is 54 shares. The minimum investment amount for retail investors is Rs 14,742.

It has been two days since this issue opened, but it has received a lukewarm response from investors. This issue was booked 24 percent on the first day. Retail category was booked 52 percent, NII category 2 percent and QIB category 25 percent.

Usually the subscription of IPO increases on the second day, but the pace of subscription of Jinka Logistics IPO slowed down on the second day. The total subscription of this issue on the second day was only 32 percent.

The pace in the retail category was also slow and only 92 percent of this category was booked. QIB category was subscribed 25 percent and NII category 4 percent.

November 18 is the last day of subscription and it is expected that the issue will be completely booked on this day. About 75 percent of the public offering is reserved for qualified institutional buyers, 10 percent for retail investors and the remaining 15 percent for non-institutional investors.

Zinka IPO Subscription There has also been a huge decline in GMP. Two days before the issue opened it was Rs 24 and the next day GMP became Rs 0. It is possible that this may have affected the subscription as well. However, gray market prices fluctuate rapidly and are just an indication.

Analysts have advised investors to subscribe to the issue given Blackbuck's strong market position, scalable asset-light model and high growth potential.

This is a book built issue of Rs 1114.72 crore. This includes fresh issue of 2.01 crore shares worth Rs 555 crore and offer for sale of 2.07 crore shares worth Rs 564.72 crore. The promoters of the company are Rajesh Kumar Naidu Yabaji, Chanakya Hriday and Ramasubramaniam Balasubramaniam.