Suspense Crime Sach Ka Dam
There is good news for investors waiting for IPO. The IPO of Jinka Logistics Solutions Limited, a digital platform for truck owners, is opening on November 13. The price band for the initial public offering (IPO) of Rs 1,115 crore has been fixed at Rs 259-273 per share. According to PTI news, the company said on Friday that the IPO will close on November 18. Jinka Logistics IPO lot size is 54 equity shares and then in multiples of 54 equity shares.
Value of OFS: Rs 565 crore
This IPO is a combination of a fresh issue of Rs 550 crore and an offer for sale (OFS) of 2.06 crore shares. At the upper end of the price range, the value of the OFS for promoters and investors works out to Rs 565 crore. Employees will also get a discount of Rs 25 per equity share in the IPO. The amount of Rs 200 crore raised from the fresh issue will be used for sales and marketing initiatives.
Of this, an amount of Rs 140 crore will be used for investment in Blackbuck Finserv, while Rs 75 crore will be used to finance product development related expenses and a part will be invested in general company operations.
How much reserve for whom
The Jinka Logistics IPO has reserved at least 75% of the shares in the public issue for qualified institutional buyers (QIBs), not more than 15% for non-institutional institutional investors (NIIs), and not more than 10% of the offer is reserved for retail investors. 26,000 equity shares have been reserved for employees.
Proposal to sell 2.07 crore shares
The Jinka Logistics Solutions IPO is a fresh issue amounting to ₹550 crore. According to a Livemint report, it also includes an offer for sale of 2.07 crore shares by existing shareholders and promoters. At the highest price point, the value of the offer for sale will be around ₹564.72 crore. The total size of the issue will be around ₹1,114.72 crore.
