Zinka Logistics Solutions Invests ₹ 40 Crore in Wholly Owned Subsidiary Blackbuck Finserve

Zinka Logistics Solutions Ltd. has invested ₹ 40 Crore in the equity shares of its wholly owned subsidiary, Blackbuck Finserve Private Limited (BFPL), by way of subscription to Rights Issue. This investment is a part of the utilization of proceeds from the Initial Public Offer (IPO) to finance the augmentation of BFPL's capital base to meet its future capital requirements. BFPL, incorporated in 2019, is engaged in financing various kinds of assets including plant, machinery, vehicles, buses, and lorries. The investment does not change the shareholding percentage of the Company in BFPL and falls under the purview of related party transactions as per the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, at arm's length.