28 Jul '23 - 01 Aug '23
₹123,600 / 1 Lots (1200 Shares)
₹123,600 / 1 Lots (1200 Shares)
Investor category and sub categoryQualified Institutional Buyers | Retail Investors |
Zeal Global Services IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jul 28, 2023
IPO Closing Date
Aug 1, 2023
Basis of Allotment
Aug 4, 2023
Initiation of Refunds
Aug 7, 2023
Credit of Shares to Demat Account
Aug 8, 2023
IPO Listing Date
Aug 9, 2023
UPI Mandatory Expiry Date
Aug 1, 2023
About Zeal Global Services Ltd.
Incorporated in February 2014, Zeal Global Services provides logistics solutions in the Air Cargo Industry. The company has been operating as General Sales and Service Agent (“GSSA”) and sales partner for airlines.
Zeal Global Services works with an approach to offer economical solutions to their client's freighting needs through - excessive aircraft, load and destination compatibility analysis to suit the ever-changing needs of various industries like pharmaceuticals, fashion, automotive, etc. The company offers services in India, the Middle East, Malaysia, China, Singapore and Sri Lanka.
Zeal Global Services Limited IPO Details
Zeal Global Services is a 100% fresh IPO worth ₹36.46 crore. The issue comprises 35,40,000 shares and is priced at ₹103 per share. Retail investors can bid for the Zeal Global Services Limited IPO, which will open on July 28, 2023. Zeal Global Services Limited’s IPO will list on the NSE exchange on August 9, 2023.
Zeal Global Services Limited IPO Objectives
The objectives of Zeal Global Services Limited's IPO are listed below:
- To fund the working capital requirement of the company
- For investments in subsidiaries for business expansion
- To fund the part repayment of debt
- To meet the issue expenses
- To meet the general corporate purposes
Noteworthy Highlights of Zeal Global Services Ltd
- Zeal Global Services Ltd offers customised solutions to their clients irrespective of their business size.
- The company made a strategic investment and acquired 33% of the stake in the Joint Venture, Teleport Commerce IN Private Limited.
- In India, there are 300 IATA (International Air Transport Association) agents, and 250 of them are onboarded with Zeal Global Services, currently.
Currently, there are no listed peers for Zeal Global Services that offer the same business.
Zeal Global Services Ltd. Financials
|Particulars||Period ending on January 31, 2023||Period ending on March 31, 2022||Period ending on March 31, 2021|
|Revenue from operations||9,495.31||12,109.40||6,058.87|
|Profit After Tax (PAT)||838.40||722.45||188.32|
|Earnings Per Share||8.46||6.97||2.26|
Know before investing
The net worth of the company more than doubled from ₹603.09 on March 31, 2021, to ₹2,115.62 on January 31, 2023.
The company’s profit after tax increased highly from ₹188.32 on March 31, 2021, to ₹838.40 on January 31, 2023.
Though the company served ~200 IATA agents in FY 2022-23, the company has no long-term agreement with them.
Though the company has clients in other regions, it is focused on Delhi only. Expanding to other cities may pose risks that can impact the revenue.
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Zeal Global Services Ltd IPO FAQs
The Zeal Global Services Ltd IPO contains 100% fresh IPO worth ₹36.46 crore. The issue comprises 35,40,000 shares and is priced at ₹103 per share. The IPO will open on July 28, 2023.
The Basis of Allotment will happen on Friday, August 4, 2023.
The IPO subscription window will open on July 28, 2023.
Retail investors can apply for a minimum of one lot, which consists of 1,200 shares.
Zeal Global Services Ltd IPO will list on the NSE exchange on Wednesday, August 9, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Wednesday, August 9, 2023, for Zeal Global Services Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.