Zeal Global IPO to open on July 28: Check price band, lot size & other details
The IPO of Zeal Global Services will open for subscription on Friday, July 28 as the company looks to sell its shares at a fixed price of Rs 103 apiece.
- Jul 27, 2023,
- Updated Jul 27, 2023 3:49 PM IST
The initial public offering (IPO) of Zeal Global Services will open for subscription on Friday, July 28 as the company looks to sell its shares at a fixed price of Rs 103 apiece. Investors can bid for the issue for three-days which will close for subscription on Tuesday, August 1. The company is looking to raise Rs 36.46 crore from its primary stake sale, which is entirely a sale of up to 35.40 lakh fresh equity shares, with a face value of Rs 10 each. The company has fixed the lot size at 1,200 equity shares, costing Rs 1,23,600. Retail investors can bid for a single lot only, while non-institutional investors need to bid for a minimum of two lots or 2,400 shares. Incorporated in 2014, Zeal Global Services is engaged in the operations of offering logistics solutions in the air cargo industry in two verticals- cargo carrier service and passenger carrier service. The New Delhi based company offers its services in other cities too as it serves as general sales and service agent (GSSA) as well as a sales partner for airlines in the region. The net proceeds from the issue shall be utilized towards funding working capital requirement, investments in subsidiaries for business expansion, part repayment of debt, general corporate purposes and to meet issue expenses, the company said in its RHP. The company has allocated 1,77,600 equity shares as market maker portion, which is Rikhav Securities for Zeal Global. A minimum of 50 per cent of the net issue is made available for retail individual investors; and the remaining portion shall be made available for allotment to non-institutional investors, including qualified institutional buyers, corporate bodies and institutions. Expert Global Consultants is the sole manager to the issue, while Skyline Financial Services has been appointed as the registrar to the issue. The stock will be listed at SME platform of the National Stock Exchange (NSE) with August 9, Wednesday as the tentative date of listing.
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The initial public offering (IPO) of Zeal Global Services will open for subscription on Friday, July 28 as the company looks to sell its shares at a fixed price of Rs 103 apiece. Investors can bid for the issue for three-days which will close for subscription on Tuesday, August 1. The company is looking to raise Rs 36.46 crore from its primary stake sale, which is entirely a sale of up to 35.40 lakh fresh equity shares, with a face value of Rs 10 each. The company has fixed the lot size at 1,200 equity shares, costing Rs 1,23,600. Retail investors can bid for a single lot only, while non-institutional investors need to bid for a minimum of two lots or 2,400 shares. Incorporated in 2014, Zeal Global Services is engaged in the operations of offering logistics solutions in the air cargo industry in two verticals- cargo carrier service and passenger carrier service. The New Delhi based company offers its services in other cities too as it serves as general sales and service agent (GSSA) as well as a sales partner for airlines in the region. The net proceeds from the issue shall be utilized towards funding working capital requirement, investments in subsidiaries for business expansion, part repayment of debt, general corporate purposes and to meet issue expenses, the company said in its RHP. The company has allocated 1,77,600 equity shares as market maker portion, which is Rikhav Securities for Zeal Global. A minimum of 50 per cent of the net issue is made available for retail individual investors; and the remaining portion shall be made available for allotment to non-institutional investors, including qualified institutional buyers, corporate bodies and institutions. Expert Global Consultants is the sole manager to the issue, while Skyline Financial Services has been appointed as the registrar to the issue. The stock will be listed at SME platform of the National Stock Exchange (NSE) with August 9, Wednesday as the tentative date of listing.
Also read: Hot stocks on July 27, 2023: RVNL, Bharti Airtel, Ion Exchange, Texmaco Rail and more
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