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Peak XV trims stake in Zinka Logistics in Rs 302 crore bulk deal; ADIA, MIT among buyers

by FeeOnlyNews.com
3 months ago
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Peak XV trims stake in Zinka Logistics in Rs 302 crore bulk deal; ADIA, MIT among buyers
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Bengaluru-based logistics tech company Zinka Logistics Solutions, popularly known as BlackBuck, witnessed a block deal on Tuesday. A group of marquee institutional investors picked up stakes, while existing investor Peak XV Partners pared down its holding. The total block deal value is around Rs 302 crore.

According to data from the stock exchanges, nearly 59 lakh shares changed hands. Among the buyers were global institutional names such as Abu Dhabi Investment Authority (ADIA), ICICI Prudential Mutual Fund, and Massachusetts Institute of Technology (MIT).

ADIA purchased 23,02,574 shares at a price of Rs 420 per share. ICICI Prudential Mutual Fund acquired 11,42,856 shares at the same price, while MIT picked up the largest chunk — 24,65,945 shares — at Rs 420 per share.

On the sell side, Peak XV Partners Investments VI offloaded 12,10,588 shares at a higher price of Rs 444.71 per share, likely booking gains on their earlier investments.

As of the latest available data, promoters held 27.7% of Zinka, while the public held 72.3%. Foreign investors made up a large chunk of the public shareholding, with several high-profile names such as Tribe Capital, Sands Capital, Accel, and B Capital featuring on the register.

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Zinka’s largest public shareholder was Quickroutes International, holding over 9% stake. Among mutual funds, SBI Technology Opportunities Fund held 6.62%, while Bandhan Core Equity Fund and Invesco India Contra Fund held smaller chunks.Zinka Logistics is one of India’s leading tech-driven logistics platforms specializing in full-truck load (FTL) freight. Founded in 2015, the company has transformed the traditional trucking ecosystem by digitizing operations for both fleet owners and shippers.Through its mobile and web-based solutions, Zinka connects truckers with businesses in real-time, offering seamless booking, GPS-based tracking, digital payments, and documentation. The platform serves a wide range of industries including FMCG, manufacturing, and e-commerce, providing reliable long-haul transportation across India.

The company also assists truckers with services like fuel cards, insurance, and toll management, aiming to improve their efficiency and reduce idle time.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)



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