This image is AI-generated and does not depict any real-life event or location. It is a fictional representation created for illustrative purposes only. Zinka Logistics Solutions Ltd, a pioneering digital platform in India’s trucking industry, saw its Initial Public Offering (IPO) subscribed 32% on the second day of bidding. According to data from the NSE, the IPO attracted bids for 72,15,696 shares against an offer of 2,25,67,270 shares. The response from different investor segments varied, with Retail Individual Investors (RIIs) subscribing 90% of their portion while Qualified Institutional Buyers (QIBs) showed a 26% subscription rate. Non-institutional investors exhibited a lower interest, with a 4% subscription rate. The proceeds from the Rs 1,115-crore IPO will finance several strategic initiatives. Rs 200 crore will bolster sales and marketing, Rs 140 crore will fund Blackbuck Finserve to enhance its capital base, while Rs 75 crore will drive product development. The remaining funds will address general corporate needs. (With inputs from agencies.)
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