Zeal Global Services, established on February 13, 2014, is actively involved in providing logistics solutions within the air cargo industry. The company operates as a general sales and service agent as well as a sales partner for various airlines in the region.
| Bidding Dates |
|---|
| 28 Jul 2023 - 01 Aug 2023 |
| Subscription |
|---|
| 3.9x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,23,600 | 1 | 1 | 1200 | 3.5 M | ₹103 | 73.4 % | ₹364.6 M | RHP DOC |
Zeal Global Services IPO SUBSCRIPTION STATUS
01 Aug '23Zeal Global Services IPO overall subscription rate was 3.9 times the total available shares
Zeal Global Services IPO retail subscription rate was 3.65 times in the retail segment
Zeal Global Services IPO non-institutional investor subscription rate was 4.15 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
01 Aug 2023 (Day 3) | 3.65x | 4.15x | - |
31 Jul 2023 (Day 2) | 1.33x | 1.34x | - |
28 Jul 2023 (Day 1) | 0.36x | 0.99x | - |
Zeal Global Services FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 10MFY23 | 83.8 | 949.5 | -40.3 | -121.2 | 13.0% |
| FY22 | 72.2 | 1,210.9 | 68.3 | 67.8 | 6.0% |
| FY21 | 18.8 | 605.9 | -51.6 | -56.5 | 4.0% |
| FY20 | 12.6 | 764.9 | 89.9 | 87.2 | 3.0% |
Zeal Global Services IPO SUBSCRIPTION STATUS DETAILS
Zeal Global Services had 3.5 M shares on offer
Zeal Global Services IPO offer price was ₹103
Zeal Global Services IPO minimum Investment was ₹123600
Zeal Global Services IPO issue size was ₹ 364.6 M
Zeal Global Services had a minimum lot size of 1200 Shares per application
Zeal Global Services NUMBER OF SHARES ON OFFER
Zeal Global Services IPO IMPORTANT DATES
| Issue Open Date | 28 Jul 2023 |
| Issue close Date | 01 Aug 2023 |
| Allotment Date | 04 Aug 2023 |
| Refund Date | 07 Aug 2023 |
| Demat Account Credit Date | 08 Aug 2023 |
| Listing Date | 09 Aug 2023 |
| Listing on Exchange(s) | NSE |
| Zeal Global Services Allotment Status | Exchange |
Zeal Global Services IPO subscription opened on 28 Jul 2023, and closed on 01 Aug 2023
IPO allotment for Zeal Global Services was finalized on Friday, 04 Aug 2023
IPO listing for Zeal Global Services was on NSE on Wednesday, 09 Aug 2023
Zeal Global Services IPO LISTING GAINS
| Issue Price (adjusted) | 103.0 |
| Listing Open Price | 147.0 |
| Listing Close Price | 154.3 |
| Listing Gain% | 42.7% |
| Current Gain% | -35.9% |
Zeal Global Services Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Zeal Global Services Ltd. | 66 | 87.8 | 7.9 | -0.3 | 0.3 | 12.1 | 7.8 | 289.9 | -22.1 | 11.1 | -23.5 | 8.4 | -23.5 |
| Container Corporation of India Ltd. | 505.2 | 38476.9 | 31 | -7.3 | 4.2 | 9.6 | 8.2 | 9443.2 | 1.2 | 1241.8 | -3.6 | 16.3 | -4.2 |
| Delhivery Ltd. | 473.3 | 35452.8 | 379 | -7.2 | 3.2 | 1.6 | 1.2 | 10867 | 16 | 152.7 | -5.8 | 1.2 | -52.9 |
| Shadowfax Technologies Ltd. | 241.2 | 14120.3 | 83.5 | 3 | 6.4 | 3.9 | 4238.6 | 68.6 | 111.7 | 1638.4 | 2.9 | ||
| Blue Dart Express Ltd. | 5089.5 | 12076.3 | 42.1 | 2.7 | 1.9 | 13.9 | 6 | 6182.8 | 7.3 | 247.4 | -2 | 121 | 15.8 |
| VRL Logistics Ltd. | 281.4 | 4921.9 | 18.4 | 0.8 | 1.5 | 20.7 | 9.1 | 3244.8 | 1.8 | 236.8 | 29.5 | 15.3 | 21.8 |
Zeal Global Services INFORMATION ON IPO ISSUE
About Zeal Global Services
Zeal Global Services, established on February 13, 2014, is actively involved in providing logistics solutions within the air cargo industry. The company operates as a general sales and service agent as well as a sales partner for various airlines in the region.
Object of the Issue
- Working capital requirement
- Investments in subsidiaries for business expansion
- Part repayment of debt
- General corporate purposes
- To meet issue expenses
Zeal Global Services - PROMOTERS
| Name |
|---|
| Nipun Anand |
| Vishal Sharma |
Zeal Global Services Lead Manager to the Issue
Expert Global Consultants Private Limited
ipo@expertglobal.in
Zeal Global Services Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Zeal Global Services Strengths
Scalable business model
It follows a customer-centric business model. It has attracted various airlines in India, such as Copa Airlines, Bringer Air cargo, Miat Mongolian Airlines, and Air Europa
Efficient team and market leadership
It has a customer-centric business model and serves as a general sales and service agent and sales partner for various airlines in India, including Copa Airlines, Bringer Air cargo, Miat Mongolian Airlines, and Air Europa. The company emphasizes cost reduction to achieve market leadership and has developed strong relationships with 250 IATA Agents
Handles specialised cargo
It offers specialized cargo services for unusual sizes and temperature-controlled cargo, catering to goods such as perishable items and pharmaceutical drugs. The company has successfully handled cargo as heavy as 29 tonnes
Zeal Global Services Risks
Dependent on limited customers
The company is dependent on a limited number of customers and airlines. The loss of any of these key customers or airlines could have a substantial impact on its financial performance
Faces competition
The company operates in a competitive market with both organized and unorganized players. This competitive landscape may pose challenges to its business operations and financial condition
Outstanding legal proceedings
The company and its directors currently have outstanding legal proceedings. Any unfavorable outcome in these proceedings could potentially impact the company's profitability and reputation
IPO FAQs
The promoters of the company are Nipun Anand and Vishal Sharma.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 103.0 - 103.0.
The IPO application opens on Jul 28, 2023 and closes on Aug 01, 2023.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 123,600.0, the maximum value for this IPO is Rs 123,600.0.
This IPO will be allotted on Aug 04, 2023.
The refund will be credited to your account on Aug 07, 2023.
The allotted shares will be credited to your demat on Aug 08, 2023.
Zeal Global Services Ltd.’s shares listed on the stock exchanges on Aug 09, 2023.