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Zeal Global Services IPO Date, Price, GMP, Review, Details

Zeal Global Services IPO: Opens on July 28, 2023, & closes on August 01, 2023. Check out the Issue price, GMP, and Expert analysis.

The needs of the shipping logistics industry have created a huge demand for cargo and passenger transportation in a global context.

To suffice this demand, in the field of cargo/passenger service, Zeal Global Services Ltd, a Small Medium Enterprise (SME) company plans to pool funds through public issue @NSE.

Zeal Global Services IPO Date, Price, GMP, Review, Details

In the upcoming lines, information such as IPO issue subscription, the details of total equity share allocation, Share allotment to retailers, HNI/NII, and market makers, and the occurrence of the event dates are made available.

You can find the objectives of the SME IPO issue, company profile, Promotors, lead managers, registrar, company operations, GMP, financial highlights of three consecutive years (FY20,21,22), and its analysis. Further the utilization of the funds obtained from the IPO offer.

From the below-mentioned info, you can decide whether or not to opt for an SME IPO issue at the National Stock Exchange.

IPO Issue subscription:

Zeal Global Services Ltd offers shares to interested buyers at the National Stock Exchange, NSE. You can subscribe for the IPO issue as the offer opens on 28th July 2023, and the subscription closes on 01st August 2023, in which both dates are inclusive.  

The IPO issue provides company stocks where each share’s face value is ₹10 and the IPO issue shall be released at a fixed price. The fixed price of a share quote is ₹103.

The company shall issue a total of 35.40 lakh shares with each share priced at ₹103 thus the total fund value will rise to ₹36.46 crore.

IPO Fund Allocation to Retailers,/HNI/NII, & Market Maker Share Reservation:

The company has made a total share allotment of 35,40,000 shares (100.00%) to different segments.

It has reserved a share allotment of 1,77,600 shares ( 5.02%) to the market maker.

Likewise, the company offered retail shares worth 16,82,400 (47.52%) to retailers and offered shares worth 16,80,000 (47.46%). 

Share Allotments to Retailers/HNI/NII

In the case of retail investors, the minimum and maximum lot size remains the same and per lot, it shall contain 1,200 shares. Therefore, you are entitled to make an investment of (1,200 x ₹103 per share ) that aggregates to ₹123,600.

The company allows a minimum of 2 lots that contain 2,400 shares that aggregate to ₹247,200 and there is no maximum limit.

How Does Zeal Global Services Utilise the IPO Funds?

After the IPO fund listing on August 09, 2023, Zeal Global Services shall utilize these funds to make investments in the following ways.

A part of the acquired IPO fund shall be used in the business expansion of its subsidiaries.

A part of the fund shall be put into making a partial payment of the debt. A specific portion of the fund shall be invested to fulfill the working capital requirements and the remaining for general corporate purposes.

Further, the net IPO issue expenses shall be met by the net cash raised through the issue.

Zeal Global Company Profile:

Established in 2014, and Headquartered in Delhi, Zeal Global Services Ltd, is providing end-to-end logistic solutions in the air cargo industry along the length and breadth of India.

The company renders its operations in General Sales and Service Agent (GSSA) and functions as a sales partner by facilitating the logistics of the partnered air cargo businesses.

After the post-IPO offer, the company’s equity shall rise from 97.69 lakh shares to 133.09 shares. 

Promoters / Registrars of Zeal Global Services IPO       

After completion of the IPO issue allotment, the promoter stake shall be dissolved from 100% to 73.40% and the promoters are Nipun Anand and Vishal Sharma.

Expert Global Consultants is elected to be the lead manager of the IPO issue, and Skyline Financial Services Private Ltd will be the registrar of the IPO issue. 

Zeal Global Services Ltd Operations:

Zeal Global Services Ltd operates two verticals, namely, cargo carrier service, and passenger carrier service.

The company extends its services to different industry portfolios, and they are fashion, automotive, pharmaceuticals, and industrials.

In addition, the company provides add-on services such as offering sales, marketing, and administrative support to its clients.

 Zeal Global Services IPO GMP:

The Grey Market Premium begins to frame at least five days before IPO is set to open and on the day of IPO listing, the actual price gets confirmed. However, the GMP took position at ₹5.00 on July 25, 2023, and July 26, 2023, and hence with the available data you can expect the upper limit to be set at ₹108.  

Event Detailing – Tentative Date

S.NoEventTentative Date
1IPO Opening DateJuly 28th, 2023
2IPO Closing DateAugust 01st, 2023
3Allotment FinalizedAugust 04th 2023
4Refunds to non-allotteesAugust 07th, 2023
5Shares Credited to Investor’s Demat accountsAugust 08th, 2023
6IPO Listing DateAugust 09th, 2023

Financial Status of Zeal Global Services Ltd for 3 Consecutive Years (FY20/FY21/FY22):

1Total Revenues₹121.28 cr₹60.95 cr₹76.71 cr
2Revenue growth98.98%-20.54%N/A
3Profit after tax (PAT)₹5.24 cr₹1.70 cr₹1.34 cr
4Net Worth₹12.77 cr₹6.03 cr₹4.36 cr

Applying through Discount Brokerage/ASBA

Besides seeking the help of discount brokerage companies, you can apply through ASBA applications, in this case, the total amount is blocked and once the allotment is finalized the amount is debited to the amount of the allotment done.

After that, the lien on the balance amount is let into the bank account.

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