03 Jun , 2025 By : Debdeep Gupta
Shares of Zinka Logistics Solutions staged a sharp rebound on Tuesday, June 3, erasing early losses of over 4 percent to trade more than a percent higher by midday. The recovery came after a hefty block deal worth Rs 692 crore, in which nearly 9.22 percent of the company’s equity, or around 1.63 crore shares, changed hands at Rs 423 apiece.
The bulk deal comes amid buzz that Quickroutes International was planning to pare its stake in the company. CNBC TV-18, citing sources, had indicated a likely sale of around 9 percent equity through a block deal at a floor price of Rs 405 per share, aiming to raise close to Rs 647 crore. As of the March quarter, Quickroutes held a 9.01 percent stake in Zinka Logistics, suggesting it could be the seller in Tuesday’s deal.
Zinka, the operator of the BlackBuck platform, is considered one of India’s largest digital freight networks. In FY24, over 9.6 lakh truckers—about 27.5 percent of the country’s fleet operators—transacted on its platform. The company enables digital toll and fuel payments, real-time fleet tracking via telematics, load discovery, and financing for used vehicle purchases.
Shares of Zinka Logistics Solutions Ltd. made a subdued debut on the stock exchanges in November, listing at Rs 280.90 on the NSE—just 2.89 percent above the IPO allotment price of Rs 273—after the completion of its initial public offering. The IPO included a mix of a fresh offer of up to Rs 550 crore and an offer for sale of up to 2.06 crore equity shares by Promoter and Investor Selling Shareholders.
At about 10:20 am, shares of the company were trading at Rs 443, higher by 1.2 percent from the last close on the NSE. Zinka Logistics' share price is down nearly 10 percent since the start of the year.
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