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Zinka Logistics made a modest debut on the National Stock Exchange (NSE) on November 22, listing at a 3% premium over its IPO price. BlackBuck shares opened at Rs 280.90 on the NSE, reflecting a 2.89% premium, while they were listed at Rs 279.05 on the BSE, a 2.2% premium. The listing price exceeded grey market expectations, which had predicted a near-flat opening.
BlackBuck IPO allottees are expected to experience modest listing gains on November 22, as market sentiments remain weak. Meanwhile, Zinka Logistics' IPO saw a decent subscription of 1.87 times, but the current grey market premium suggests a flat listing. Analysts recommend holding Zinka for the long term, citing its strong market presence despite high valuation concerns. The trucking industry in India, characterized by fragmentation, has shown steady growth, with a CAGR of 8-9% over the past four years.
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