Zinka Logistics Investor Quickroutes International To Offload Entire Stake For Rs 647 Crore
Quickroutes International as of March 2025 held 1.6 crore shares representing 9.01% stake in Zinka Logistics.
Quickroutes International Pvt., a public shareholder in Zinka Logistics Solutions Ltd., is aiming to offload its entire stake and raise approximately Rs 647 crore, according to the term sheet accessed by NDTV Profit.
The floor price for the sale of a 9% stake has been set at Rs 405 per share; this is at a 7.5% discount to Rs 437.65 per share close on Monday. IIFL Capital Services Ltd., formerly known as IIFL Securities Ltd. is the bookrunner for the offer.
The sale will be facilitated through the trading platforms of the National Stock Exchange and the BSE.
Quickroutes International, as of March 2025, held 1.6 crore shares, representing a 9.01% stake in Zinka Logistics, a digital platform for truck operators.
Zinka Logistics swung to profit in the fourth quarter of this financial year. The company recorded a consolidated net profit of Rs 280.66 crore for the quarter ended March, compared to a loss of Rs 90.78 crore in the same quarter of the previous fiscal year. Revenue increased by 29.1% year-on-year for the three months ended March, reaching Rs 120.35 crore.
Zinka Logistics is one of the largest digital platforms for truck operators in terms of number of users, with 963,345 truck operators in the country using their platform in fiscal 2024, which comprises 27.52% of India’s truck operators.
The shares of Zinka Logistics closed 0.56% lower at Rs 437.65 apiece. This compares to a 0.14% decline in the NSE Nifty 50 Index. It has risen 68.29% since its listing in November and fallen 9.18% year-to-date.
Out of six analysts tracking the company, five maintain a 'buy' rating, and one recommends a 'hold'. The average 12-month consensus price target implies an upside of 30.5%.
