Quick Routes International, a key early backer of Zinka Logistics, exited the company on Tuesday by selling its entire 9.01% stake for Rs 672 crore via two bulk deals. According to NSE data, the investor sold over 1.59 crore shares in the price range of Rs 420.06–420.25 apiece.
Zinka Logistics Solutions is the parent entity of Blackbuck, a Bengaluru-based digital freight platform that counts several global and domestic investors among its shareholders.
Accel and Peak XV also trim holdings
In a separate deal on the BSE, Accel offloaded a 2.7% stake through its affiliates, Accel India IV (Mauritius) and Accel Growth Fund V, garnering Rs 204 crore. The shares were sold in the price range of Rs 420.04–420.29 per share, according to the bulk deal disclosures.
Meanwhile, Peak XV Partners’ affiliate, Peak XV Partners Investments VI, sold 12.10 lakh shares of Zinka Logistics for Rs 53.84 crore at an average price of Rs 444.71 per share on the NSE.
Institutional buyers step in
As existing investors trimmed their stakes, a clutch of marquee institutions picked up shares in Zinka Logistics. Abu Dhabi Investment Authority, Massachusetts Institute of Technology, ICICI Prudential Mutual Fund, SBI Mutual Fund and Nomura India acquired a total of 83.87 lakh shares or cumulatively a 4.73 per cent stake in the company, according to data from the exchanges.
Separately, ICICI Prudential Life Insurance purchased 9.52 lakh shares for Rs 40 crore through the BSE, exchange data showed.
Details of the remaining buyers in these transactions were not immediately available on the exchanges.
Shares of Zinka Logistics Solutions closed higher in Tuesday’s session, rising 1.43% to Rs 443.75 on the BSE and ending 0.96% higher at Rs 441.85 on the NSE.
Also read | Peak XV trims stake in Zinka Logistics in Rs 302 crore bulk deal; ADIA, MIT among buyers
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