Quick Routes International Sells 9% Stake in Zinka Logistics for Rs 672 Crore

Quick Routes International has divested its 9 per cent stake in Zinka Logistics Solutions, the parent company of Blackbuck, for Rs 672 crore. This transaction was executed through open market deals on Tuesday. According to NSE data, Quick Routes sold over 1.59 crore shares in two segments, priced between Rs 420.06 and Rs 420.25 each, totalling Rs 671.76 crore.

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Investment Activity and Stake Acquisition

In a separate transaction on the NSE, Peak XV Partners Investments VI sold 12.10 lakh shares of Zinka Logistics Solutions for Rs 53 crore. The shares were disposed of at an average price of Rs 444.71 each, bringing the total deal value to Rs 53.84 crore.

Meanwhile, Abu Dhabi Investment Authority, Massachusetts Institute of Technology, ICICI Prudential Mutual Fund, SBI Mutual Fund, and Nomura India collectively acquired 83.87 lakh shares, representing a 4.73 per cent stake in Zinka Logistics Solutions based in Bengaluru.

Additional Transactions and Market Impact

On the BSE, Accel's affiliates—Accel India IV Mauritius and Accel Growth Fund V—sold a 2.7 per cent stake in Zinka Logistics Solutions for Rs 204 crore through open market transactions. The shares were priced between Rs 420.04 and Rs 420.29 each, resulting in a total deal value of Rs 203.78 crore.

ICICI Prudential Life Insurance acquired 9.52 lakh shares of Zinka Logistics for Rs 40 crore as per BSE data. However, details regarding other buyers of Zinka Logistics shares remain undisclosed on the exchange.

Zinka Logistics Solutions' share price increased by 1.43 per cent to close at Rs 443.75 on the BSE and rose by 0.96 per cent to settle at Rs 441.85 on the NSE.

With inputs from PTI