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- Zeal Global Services Ltd
Zeal Global Services Ltd
Headquartered in Delhi, Zeal Services has presence in Mumbai as their international logistics operations are supported by a network of service partners and vendors to service client requirements across India and abroad. The Company is engaged in the business of providing logistics solutions in the Air Cargo Industry. It has been operating as General Sales and Service Agent (GSSA) and sales partner for airline in the region.
The Company operate into two business verticals: Cargo Carrier Service and Passenger Carrier Service. The Company under Cargo Carrier Service are representing various airlines such as Air Europa Express (Latin America), Copa Airlines (Latin America), MIAT Mongolian (Mongolia), Bringer Airlines (Latin America), Paragon Hong Kong Express (Asia), Fits Aviation Pvt Ltd (Latin America/ Africa), Azerbaijan (Azerbaijan), Indigo (Dubai / Middle East), Mercury Air Cargo (Latin America). Transfer and shipment of goods by arrangement with the represented / contracted airlines for the transportation of cargo through air. Under Passenger Carrier Service, they work with Airlines through support for transportation of passengers through Airways from one country to another. Presently, the Company has started working with Azerbaijan Airlines as a Pilot Project.
Since the business model is customer centric, it has attracted various airlines in India, such as Copa Airlines, Bringer Air Cargo, Miat Mongolian Airlines, and Air Europa. The Company replicate the business model in other countries and expand geographically and across the world (like India) such as Middle East, Hong Kong, and Latin America. It has developed a Plug and Play business model on one side Airlines for Passenger and Cargo and on other side the Shipper / IATA Agents.
To strengthen the association, Zeal Global made a strategic investment in the Joint Venture named Teleport Commerce In Private Limited and acquired 33% of the stake in the Joint Venture in 2019. Later, in 2022, the Company inked an agreement with Azerbaijan Hava Yollari CJSC. Further, it has ventured into travel GSSA, through which the product is now launched in terms of air travel from Delhi to Baku.
The Company is planning a Public Issue of upto 35,40,000 Equity Shares through Fresh Issue.
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Zeal Global Services Ltd IPO Timeline
Zeal Global Services Ltd IPO opens on 28-Jul-2023, and closes on 01-Aug-2023. The Zeal Global Services Ltd IPO bid date is from 28-Jul-2023 to 01-Aug-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Zeal Global Services Ltd IPO Opening Date | 28-Jul-2023 |
| Zeal Global Services Ltd IPO Closing Date | 01-Aug-2023 |
| Basis of Allotment | 04-Aug-2023 |
| Initiation of Refunds | 07-Aug-2023 |
| Credit of Shares to Demat | 08-Aug-2023 |
| Zeal Global Services Ltd IPO Listing Date | 09-Aug-2023 |
Zeal Global Services Ltd IPO Lot Size
Zeal Global Services Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 123600).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹123600 |
| Maximum | 1 | 1200 | ₹123600 |
Zeal Global Services Ltd IPO Details
| Zeal Global Services Ltd IPO Date | 28-Jul-2023 to 01-Aug-2023 |
| Zeal Global Services Ltd IPO Face Value | Shares of ₹10 per share |
| Zeal Global Services Ltd IPO Price | ₹103 per share |
| Zeal Global Services Ltd IPO Lot Size | 1200 |
| Issue Size | Shares of ₹10 (aggregating up to ₹36.46 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹36.46 Cr) |
| Offer for Sale | - |
| Issue Type | Fixed Price - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Nipun Anand, Vishal Sharma. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Working capital requirement
- 2 Investment in subsidiary for business expansion
- 3 Part repayment of debt
- 4 General corporate purposes
Company Financials
Zeal Global Services Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2023 | 57.85 | 112.70 | 9.77 |
| 03-2022 | 29.85 | 121.28 | 5.24 |
| 03-2021 | 18.82 | 60.95 | 1.72 |
| Amount in ₹ Crore | |||
- Experienced management team having domain knowledge to scale up and expand into new opportunities.
- Wide portfolio of services addressing the needs of varied customers across the industry.
- Capture the high growth opportunities in the India air cargo industry.
- Experienced promoters and management team.
- Strong brand recognition.
- The Company is dependent on few numbers of customers and airlines. Loss of any of these customers and airlines will significantly affect its revenues and profitability.
- The company business involves usage of manpower and any unavailability of the employees or shortage of contract labour or any strikes, work stoppages, increased wage demands by workmen or changes in regulations governing contractual labour may have an adverse impact on its cash flows and results of operations.
- The company has applied for the registration of the logo ZEAL GLOBAL CORP in the name. If its fail to obtain approval of registration the company brand building efforts may be hampered which might lead to adverse effect on its business.
- The company insurance coverage may not be adequate to protect it against certain losses and this may have a material adverse effect on its business.
- Any failure to maintain quality control systems for the company services could have a material adverse effect on its business, reputation, results of operations and financial condition.
- The fall in cargo volumes and the increase in transport capacity caused freight rates to drop, which may adversely affect its business operation and financial condition.
- The company face competition in its business from organized and unorganized players, which may adversely affect the company business operation and financial condition.
- The company do not own registered office and the corporate office which are currently in use by the Company.
- The Company has delayed in complying with certain statutory provisions under various laws. Such delayed compliance /lapses may attract certain penalties.
- The company plan to expand into new geographies and may be exposed to significant liability and could lose some or all of the investment in such regions, as a result of which its business, financial condition and results of operations could be adversely affected.
- The company is dependent on its Promoters, management team, a number of Key Managerial Personnel and persons with technical expertise and the loss of or the company inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.
- General economic and market conditions in India and globally could have a material adverse effect on its business, financial condition, cash flows, results of operations and prospects.
- The Objects of the Issue for which funds are being raised, are based on the management estimates and any bank or financial institution or lead manager or any independent agency has not appraised the same. The deployment of funds in the project is entirely at the company discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
- There are certain outstanding legal proceedings pending against the Company and Directors. Any adverse outcome in any of these proceedings may adversely affect its profitability and reputation and may have an adverse effect on the commpany results of operations and financial condition.
- The company has certain contingent liabilities, which if materialized may affect its financial condition and results of operations.
- Major fraud, lapses of internal control or system failures could adversely impact the Company's business.
- The company face intense competition in the businesses, which may limit its growth and prospects. The Company faces significant competition from other companies.
- The LM has relied on declarations, undertakings and affidavits for some of the Directors, Promoter and KMPs to include their details in this Draft Prospectus.
- Industry information included in this Draft Prospectus has been derived from publicly available industry reports and/or websites. There can be no assurance that such third-party statistical financial and other industry information is either complete or accurate.
- The company inability to manage growth could disrupt its business and reduce the profitability. The company propose to expand its business activities in coming financial years.
- If The company is unable to source business opportunities effectively, Its may not achieve of the financial objectives.
- The Company has a limited number of airlines. Any kind of refusal from them can hinder its services resulting into loss of the clients.
- Delays or defaults in payments from the clients could result into a constraint on its cash flows. The efficiency and growth of the company business depends on timely payments received from its clients.
- The continuing impact of the COVID-19 pandemic on its business and operations is uncertain and it may be significant and continue to have an adverse effect on the company business, operations and its future financial performance.
- The company is subject to restrictive covenants under the financing agreements that could limit the flexibility its have to manage the company business.
- The company business is primarily dependent upon a continuing relationship with IATA Agents for sales of the services. Any reduction or interruption in the business of these IATA Agents, or a substantial decrease in orders placed by these IATA Agents may have an adverse impact on the revenues and operations of the Company. Further, we do not have any long-term or exclusive arrangements with dealers or distributors for selling its services.
- The company inability to collect receivables and default in payment from its customers could result in the reduction of the profits and affect the company cash flows.
- The company inability to identify and understand evolving industry trends and consumer preferences, and to provide new services to meet the customers' demands may adversely affect its business.
- After the completion of the Issue, The Promoters along with the Promoter Group will continue to collectively hold substantial shareholding in the Company.
- Certain Promoters and Directors are interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Any future acquisitions, joint ventures, partnerships, strategic alliances, tie-ups or investments could fail to achieve expected synergies and may disrupt the company business and harm the results of operations and its financial condition.
- Cost Effectiveness.
- Leveraging its knowledge and relationship.
- Attract and retain good talent.
- Business Collaboration Opportunities.
- Plant & Machinery.
- Raw Material.
Zeal Global Services Ltd IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.40% |
Zeal Global Services Ltd IPO Subscription Status (Bidding Detail)
The Zeal Global Services Ltd IPO is subscribed - times on Aug 01, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | - |
Zeal Global Services Ltd IPO Prospectus
Zeal Global Services Ltd IPO Listing Date
| Listing Date | 09 Aug 23 |
| BSE Script | 79263 |
| NSE Symbol | ZEAL |
| Listing In | NSE - SME |
| ISIN | INE0PPS01018 |
| IPO Price | ₹103 |
| Face Value | ₹10 |
Zeal Global Services Ltd IPO Registrar
Skyline Financial Services Pvt
Phone: +91 22 2851 1022
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Zeal Global Services Ltd IPO Lead Manager(s)
- Expert Global Consultants Pvt Ltd
FAQs on Zeal Global Services Ltd IPO
Zeal Global Services Ltd IPO, which opens for subscription from 28-Jul-2023 to 01-Aug-2023 has an issue size of ₹36.46 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Zeal Global Services Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Zeal Global Services Ltd IPO Opens for subscription from 28-Jul-2023 to 01-Aug-2023.
The lot size of Zeal Global Services Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹123600 and ₹123600 respectively.
Allotment date for Zeal Global Services Ltd is 04-Aug-2023 and refund of application amount (in case allotment is not received) will begin from 07-Aug-2023. If your allotment goes through, then shares will be credited in your Demat account by 08-Aug-2023.
The registrar for Zeal Global Services Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.
The shares of Zeal Global Services Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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