Zeal Global Services IPO: How to Check Allotment Status

The ₹36.46 crore IPO of Zeal Global Services Ltd consists entirely of a fresh issue of shares with no offer for sale (OFS) component in the IPO. The company has issued a total of 35,40,000 at a fixed price of ₹103 per share resulting in total IPO size of ₹36.46 crore. The issue is split into retail and HNI portion with a small allocation for the market maker to the IPO. The break-down of the reservation for  different categories of investors is as under.

Let us turn first to when you can check the allotment status of the shares online.

When can you check allotment status online

The basis of allotment will be finalized on Friday, 04th August 2023, the refunds will be initiated on 07th August 2023, demat credits will be finalized on 08th August 2023, while the stock of Zeal Global Services Ltd will get listed on the NSE SME Emerge segment on 09th August 2023. The company had a pre-IPO promoter holding of 100% and post the IPO, the promoter stake in Zeal Global Services Ltd will stand reduced to 73.40%. On listing, the company will have an indicative P/E ratio of 13.83X, which is reasonable for the sector.

How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status in the case of mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status online on the website of the IPO registrar, Skyline Financial Services Private Ltd. Here are the steps that you need to follow to check allotment status.

Checking the allotment status of Zeal Global Services Ltd on the website of Skyline Financial Services Private Ltd (Registrar to IPO)

Visit the Skyline Financial Services Private Ltd registrar website for IPO status by clicking on the link below:

https://www.skylinerta.com/ipo.php

The first thing you do is to select the company you want to access the allotment status for. The drop down box will only show companies where the allotment status is already finalized. In this case, you can get to see the name of Zeal Global on the list around 07th August 2023 when the allotment status is finalized. Once the company name appears on the drop down, you can click on the company name and go to the next screen.

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Zeal Global Services Ltd from the dropdown box. The allotment status will be finalized on Friday, 04th August 2023, so in this case, you can access the details on the registrar website either late on 04th August 2023 or by middle of 05th August 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO. All the three can be selected from the same screen by opting for the preferred radio button.

• Firstly, you can search by Beneficiary ID of your demat account. From the page you just need to first select the DP ID / Client ID option. It does not matter whether it is an NSDL account or a CDSL account. All you need to do is to write down the combination of the DP ID and the Client ID in a single string. In the case of NSDL, enter the DP id and Client id in a single string without space. In case of CDSL, just enter the CDSL client number. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Search Button in either cases.
   
• Secondly, you can access with Application Number / CAF Number. Enter the Application / CAF number and then click on Search Button. Enter the application exactly it is given in the acknowledgement slip given to you post the IPO application process. After that you can click on the Search button to get the details of shares allotted to you in the IPO.
   
• Thirdly, you can also search by Income Tax PAN number. Once you select PAN (permanent account number) from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Search Button.

The IPO status with number of shares of Zeal Global Services Ltd allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 09th August 2023. Remember that the most important factor in assessing your chances of getting allotment is the extent of oversubscription in the IPO. Normally, higher the oversubscription in the IPO, the lower are your chances of getting an allotment. Now, let us look at the extent of oversubscription that the IPO of Zeal Global Services Ltd got.

Subscription response to the IPO of Zeal Global Services Ltd

The response to the IPO of Zeal Global Services Ltd was moderate as the overall issue was subscribed 4.06X at the close of bidding on 01st August 2023 which is below the median subscription that the NSE SME IPOs have been getting in general. Out of the overall bids received, the retail segment saw 3.85 times subscription and the non-retail HNI / NII portion saw 4.26 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 01st August 2023.

Quick word on the business profile of Zeal Global Services Ltd

Zeal Global Services Ltd, is an SME IPO on the NSE Emerge segment which opened on 28th July 2023. Zeal Global Services Ltd, was incorporated in 2014 to offer detailed and end-to-end logistic solutions in the air cargo industry to enhance the efficiency and seamlessness of the operations. It operates as a General Sales and Service Agent (GSSA) and also acts as a sales partner for different airlines to facilitate the logistics of their air cargo business. Zeal Global Services Ltd is headquartered in Delhi with pan-India operations.

Zeal Global Services Ltd operates in its 2 principal verticals viz. cargo carrier service and passenger carrier service. For simplicity, it curates logistics solutions for customers based on these verticals and the network and the skill sets built up over time with customized solutions. The company deploys its services across various industries including pharma, automotive, industrials etc. It offers sales, marketing, and administrative support for its clients, as add-on service. The fresh issue funds raised in the IPO will be used for investment in subsidiaries, part repayment of debt and working capital needs. The IPO is lead managed by Expert Global Consultants Private Ltd while Skyline Financial Services Ltd is the registrar.