Cyril Amarchand Mangaldas has advised Zinka Logistics Solutions, which runs truck operations app Blackbuck, on its initial public offering worth $132 million, with Trilegal and A&O Shearman representing the bookrunning lead managers.
The IPO consists of a fresh issue worth $65 million, and an offer for sale worth $67 million by existing shareholders.
Shardul Amarchand Mangaldas & Co has advised selling shareholders Accel India IV (Mauritius), Quickroutes International, Sands Capital Private Growth II, Sands Capital Private Growth, Cell D, Peak XV Partners Investments VI (formerly known as SCI Investments VI), and VEF AB (publ). CAM also advised one of the selling shareholders, International Finance Corporation.
The book-running lead managers comprised Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Capital Services.
Zinka's BlackBuck app is transforming the industry by enabling 27 percent of India's truck operators to manage payments, monitor fleets, and access financing digitally.
“This IPO not only underscores the increasing digitization of logistics but also showcases our expertise in navigating India's equity capital markets,” said A&O Shearman partner Pallavi Gopinath Aney in a statement.
The CAM team comprised partners Yash J. Ashar and Reuben Chacko, principal associate Tanvi Kini, and associates Surya Rajkumar and Dhruv Sharma.
Meanwhile, the CAM team advising International Finance Corporation comprised partners Vishwanath Pratap Singh and Aashima Johur, senior associate Chinar Gupta, and associates Radhika Shukla and Rishi Nandkeolyar.
The Trilegal capital markets team was led by partner Vinay Sirohia and supported by associates Shashwat Raj Solanki, Shubh Dutt Ojha, Kohsheen Saraf, and Sanath Rajesh.
The A&O team was led by partners Gopinath Aney and Alexander Stathopoulos, with support from Serena Upadhyay and Shinjan Alok.
The SAM transaction team comprised partner Nikhil Naredi, senior associate Tarun Srikanth and associate Niharika Payannavar. Assistance was provided by senior associate Chinmay Sethia and associate Shruthi Hariharan.
A SAM team comprising partner Manav Nagaraj and senior associate Deepanshi Singh advised on the corporate aspects of the transaction.
