IPO Details

Bidding Dates

27 Jul '23 - 31 Jul '23

Minimum Investment

₹123,600 / 1 Lots (1200 Shares)

Price Range

₹103

Maximum Investment

₹123,600 / 1 Lots (1200 Shares)

Retail Discount

Not Applicable

Issue Size

₹36.46 Cr

Investor category and sub category

Qualified Institutional Buyers   |   Retail Investors  |  

Zeal Global Services IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jul 27, 2023

IPO Closing Date

Jul 31, 2023

Basis of Allotment

Aug 3, 2023

Initiation of Refunds

Aug 6, 2023

Credit of Shares to Demat Account

Aug 7, 2023

IPO Listing Date

Aug 8, 2023

UPI Mandatory Expiry Date

Jul 31, 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. 

Peer Details

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
Net Worth 2,115.61 1,277.22 603.09
Earnings Per Share 8.46 6.97 2.26
Total Borrowings 1243.92 194.32 171.41

Know before investing

Strengths

2

  1. The net worth of the company more than doubled from ₹603.09 on March 31, 2021, to ₹2,115.62 on January 31, 2023.

  2. The company’s profit after tax increased highly from ₹188.32 on March 31, 2021, to ₹838.40 on January 31, 2023.

Risks

2

  1. Though the company served ~200 IATA agents in FY 2022-23, the company has no long-term agreement with them.

  2. 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

What is Zeal Global Services Limited's IPO?

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.

When will Zeal Global Services Limited's IPO be allotted?

The Basis of Allotment will happen on Friday, August 4, 2023.

When will Zeal Global Services Limited's IPO open for subscription?

The IPO subscription window will open on July 28, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 1,200 shares.

When will Zeal Global Services Limited list on exchanges?

Zeal Global Services Ltd IPO will list on the NSE exchange on Wednesday, August 9, 2023.

How do I check the allotment status of the Zeal Global Services Limited IPO?

 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’

What would be the listing gains on the Zeal Global Services Limited IPO?

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.

I have finished the application process for the Zeal Global Services Limited IPO, but the funds still need to be debited. What is the reason?

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.

How do I approve the UPI mandate request for Zeal Global Services Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Zeal Global Services Limited using one PAN?

You can submit only one application using your PAN card.