The Initial Public Offering (IPO) of Zeal Global Services, a prominent player in the air cargo services industry, has opened for subscription today with new shares being offered.
While the gray market shows no significant movement, experts advise investors to base their decisions on the company’s financial performance and fundamentals.
The IPO bidding period will run until August 1, providing investors ample time to participate.
Here are the essential details about Zeal Global Services IPO and its business operations:
Zeal Global Services IPO Details
Investors have the opportunity to bid for Zeal Global Services IPO until August 1. The IPO size is Rs 36.46 crore, with a fixed issue price of Rs 103 per share and a lot size of 1200 shares.
The allotment of shares is expected to be finalized by August 4. The Registrar to the Issue is Skyline Financial Services Private Limited, and the shares are scheduled to be listed on NSE SME on August 9.
The company plans to issue 35.40 lakh new shares through this IPO to raise funds for business expansion in subsidiaries, debt repayment, working capital requirements, general corporate purposes, and IPO-related expenses.
Details of Zeal Global Services
Established in 2014, Zeal Global Services specializes in providing logistics services to the air cargo industry.
It serves as a General Sales and Services Agent as well as a sales partner for airlines, offering both cargo carrier and passenger carrier services.
The company’s portfolio encompasses sales, marketing, administration, and operational support.
Zeal Global Services has demonstrated consistent profit growth over the years.
In FY 2020, the company reported a net profit of Rs 1.34 crore, which increased to Rs 1.70 crore in FY 2021, further climbing to Rs 5.24 crore in FY 2022.
Impressively, in FY 2023 from April 2022 to January 2023, the net profit surged to Rs 8.27 crore.
Investors looking for an opportunity to be part of the air cargo services sector can consider participating in the Zeal Global Services IPO.
However, prudent decision-making based on the company’s financial health and long-term prospects is crucial to maximizing returns.