Zeal Global Services IPO subscription to open tomorrow - check price band and listing date

Zeal Global Services IPO: The company has fixed 50 per cent of the offer for retail subscriptions and the remaining 50 per cent for non-institutional investors.

One lot of Zeal Global Services IPO has 1,200 shares.

Zeal Global Services IPO: The IPO of Zeal Global Services Limited will hit Dalal Street on Friday i.e. July 28. The public offer will conclude on August 1 and the company has fixed the IPO price at Rs 103 per share having a nominal value of Rs 10. Each lot has 1,200 shares and costs Rs 1,23,600.

The shares of the company will be listed on NSE Emerge, a platform for small and medium enterprises, the company said in a statement.

One lot of Zeal Global Services IPO has 1,200 shares. It will cost Rs 1,23,600. A retail investor is allowed to bid for one lot. From the HNI quota, an investor can bid for a maximum of two lots. According to a statement by the company, the allotment will be finalised on August 4. Its shares will list on August 9.

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The company has fixed 50 per cent of the offer for retail subscriptions and the remaining 50 per cent for non-institutional investors.

Incorporated in 2014, Zeal Global Services is a prominent player in the Air Cargo Logistics sector. It broadly provides its offering in two verticals - cargo carrier service and passenger carrier service. The company has over 5,000 man-hours of experience in the General Sales & Service Agent (GSSA) industry,

Zeal Global's total assets grew from Rs 22.03 crore in March 2020 to Rs 49.69 crore in January 2023, the company said in a statement. During the same period, its total revenue surged from Rs 76.71 crore to Rs 95.05 crore. The firm's PAT or net profit soared from Rs 1.33 crore to Rs 8.26 crore in the same period.

Zeal Global said that it will utilise the proceeds from the IPO for working capital requirements, investments in subsidiaries, debt repayment, general corporate purposes and issue expenses. Apart from India, the company has its footprint in China, the Middle East, Sri Lanka, Singapore and Malaysia.

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