Zeal Global Services IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Zeal Global Services IPO will open on July 28 and close on August 1, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 36.46 crores through this public offering, consisting of 35.40 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 103 per share.
Zeal Global Services Limited (“the Company”)
Zeal Global Services Ltd. was incorporated in 2014. The company is engaged in providing logistics solutions in the Air Cargo Industry. They have been operating as General Sales and Service Agents (“GSSA”) and sales partners for airlines in the region.
The company realizes that clients have specific requirements with regard to their shipments. They, therefore, spend considerable time with clients individually to understand their specific requirements. Its approach is to bring economical solutions to its clients’ freighting needs through excessive aircraft, load, and destination compatibility analysis to suit the ever-changing needs of various industries such as fashion, pharmaceuticals, automotive, and industrial.
The company has two business verticals:
- Cargo Carrier Services.
- Passengers Carriers Services
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Working capital requirement
- Investments in subsidiaries for business expansion
- Part repayment of debt
- General corporate purposes
- To meet issue expenses
Financial Highlights (Restated)
| Particulars | For the period ended on 31st Jan. 2023 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 2,116 | 1,277 | 603 | 436 |
| Total Assets | 4,969 | 3,195 | 1,893 | 2,203 |
| Reserve & Surplus | 1,920 | 1,082 | 543 | 376 |
| Total Borrowings | 1,244 | 194 | 171 | 258 |
| Total Revenue | 9,505 | 12,128 | 6,095 | 7,671 |
| Profit After Tax | 827 | 524 | 170 | 134 |
IPO details
As per the DRHP filed with SEBI, 35.40 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 1.77 lakh shares of the offering. While Expert Global Consultants Private Limited will be the lead manager for the IPO, Skyline Financial Services Private Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 103 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,200 shares |
| Issue Size | 3,540,000 shares (aggregating up to ₹ 36.46 crores) |
| Fresh Issue | 3,540,000 shares (aggregating up to ₹ 36.46 crores) |
| Listing At | NSE SME |
Market Maker detail
| Market maker | Rikhav Securities |
| Market maker portion | 177,600 shares |
GMP: Zeal Global Services IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Zeal Global Services IPO
The issue opens for subscription on July 28, 2023, and closes for subscription on August 1, 2023 (both days inclusive). The basis of allotment will be finalised on August 4, 2023, and the refunds will be initiated on August 7, 2023. In addition, the demat credits are expected to happen on August 8, 2023, and the stock will be listed on the NSE SME on August 9, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | July 28, 2023, |
| Closing Date | August 1, 2023 |
| Basis of Allotment | August 4, 2023 |
| Initiation of Refunds | August 7, 2023 |
| A credit of shares to Demat A/c | August 8, 2023 |
| Listing Date | August 9, 2023 |
Lot Size
The lot size of the Zeal Global Services IPO is 1,200 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,200 shares of ₹ 123,600.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,200 | ₹ 123,600 |
| Retail (Maximum) | 1 | 1,200 | ₹ 123,600 |
| HNI (Minimum) | 2 | 2,400 | ₹ 247,200 |
Miscellaneous Information
| Download Prospectus (PDF) | IPO RHP |
| Company Contact Information | Zeal Global Services Limited A – 261/262, Third Floor, Street No. 6, Mahipalpur Extension, New Delhi – 110037 Phone: +91 11 4144 4063 Email: cs@zeal-global.com Website: https://www.zeal-global.com/ |
| IPO Registrar | Skyline Financial Services Private Ltd Phone: 02228511022 Email: ipo@skylinerta.com Website: https://www.skylinerta.com/ipo.php |
| IPO Lead Manager(s) | Expert Global Consultants Private Limited |
FAQs
The Zeal Global Services IPO price is ₹ 103 per share.
The minimum investment size is one lot for retail investors. One lot of the Zeal Global Services IPO contains 1,200 shares of ₹ 123,600.
The finalisation of the basis of allotment for the Zeal Global Services IPO will be done on August 4, 2023, and the allotted shares will be credited to your demat account by August 8, 2023. Check the Zeal Global Services IPO allotment status.
The Zeal Global Services IPO shares listing date is August 9, 2023.
