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Zeal Global Services IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. Cargo Carrier Services.
  2. Passengers Carriers Services

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. Working capital requirement
  2. Investments in subsidiaries for business expansion
  3. Part repayment of debt
  4. General corporate purposes
  5. To meet issue expenses

Financial Highlights (Restated)

ParticularsFor the period ended on 31st Jan. 2023FY 2021-22FY 2020-21FY 2019-20
Net Worth2,1161,277603436
Total Assets4,9693,1951,8932,203
Reserve & Surplus1,9201,082543376
Total Borrowings1,244194171258
Total Revenue9,50512,1286,0957,671
Profit After Tax827524170134
(Amount in ₹ Lakhs)

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 TypeFixed Price Issue IPO
IPO Price₹ 103 per share
Face Value₹ 10 per share
Market Lot1,200 shares
Issue Size3,540,000 shares (aggregating up to ₹ 36.46 crores)
Fresh Issue3,540,000 shares (aggregating up to ₹ 36.46 crores)
Listing AtNSE SME

Market Maker detail

Market makerRikhav Securities
Market maker portion177,600 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 DateJuly 28, 2023,
Closing DateAugust 1, 2023
Basis of AllotmentAugust 4, 2023
Initiation of RefundsAugust 7, 2023
A credit of shares to Demat A/cAugust 8, 2023
Listing DateAugust 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.

ApplicationsLotsSharesAmount
Retail (Minimum)11,200₹ 123,600
Retail (Maximum)11,200₹ 123,600
HNI (Minimum)22,400₹ 247,200

Miscellaneous Information

Download Prospectus (PDF)IPO RHP
Company Contact InformationZeal Global Services Limited
A – 261/262, Third Floor, Street No. 6, Mahipalpur Extension, New Delhi – 110037
Phone: +91 11 4144 4063
Email: [email protected]
Website: https://www.zeal-global.com/
IPO RegistrarSkyline Financial Services Private Ltd
Phone: 02228511022
Email: [email protected]
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.

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