Zeal Global Services, a prominent provider of air cargo services, has launched its IPO worth Rs 36.46 crore for subscription, open till August 1. The IPO comprises only new shares, and the issue price has been set at Rs 103 per share with a lot size of 1200 shares. The company’s IPO proceeds will be utilized to invest in subsidiaries for business expansion, repay debt, meet working capital requirements, general corporate purposes, and cover expenses related to the IPO.
Limited Time Offer: Subscribe to Zeal Global Services IPO till August 1
Established in 2014, Zeal Global Services offers logistics solutions to the air cargo industry, acting as the General Sales and Services Agent and sales partner for airlines. Its services encompass cargo and passenger carrier services, including sales, marketing, administration, and operations.
Issue Price and Lot Size: Details of Zeal Global Services IPO
Market experts suggest that investment decisions should rely on the company’s financials and fundamentals rather than signals from the gray market, where no notable movement has been observed regarding Zeal Global Services’ IPO. The company’s financial health reflects a consistent rise in profits over the years, with net profits increasing from Rs 1.34 crore in FY 2020 to Rs 8.27 crore in FY 2023 (from April 2022 to January 2023). The allotment of shares will be finalized by August 4, and trading is expected to begin on NSE SME on August 9.
