Zinka Logistics Solutions Limited — Others, 05-08-2025: Monitoring Agency Report

Zinka Logistics (Blackbuck) has released its Q1 FY26 Monitoring Agency Report on IPO proceeds utilization. ICRA confirms no deviation from the stated objectives of the issue. Of the INR 550 Cr gross IPO proceeds, INR 201.81 Cr has been utilized cumulatively, with INR 33.10 Cr used in the latest quarter. Funds were directed towards sales and marketing, investment in its NBFC subsidiary Blackbuck Finserve, and product development. The remaining INR 348.19 Cr is primarily invested in fixed deposits. While some project spending is delayed, it's now expected by December 2025, providing clarity on the company's capital allocation.