Zeal Global Services shares list at 42% premium, end the day at 5% upper circuit

Zeal Global Services shares listed on NSE SME exchange at a premium on Wednesday. The stock was listed at ₹147 per share, 42.7 percent higher than the issue price of ₹103 on the NSE SME exchange. Zeal Global Services share price extended gains posting and were locked at 5% upper circuit after making a strong debut. Zeal Global Services share price closed at ₹154.35 apiece. 

Zeal Global Services IPO opened for subscription on Friday, 28 July, and closed on Tuesday, 1 August. The company set the IPO's price band at ₹103 per equity share.

Zeal Global Services IPO aims to raise ₹36.46 crore. The company plans to use the issue's proceeds to pay for the following things: working capital needs, investments in subsidiaries for company growth, partial debt repayment, general corporate purposes, and issue expenditures.

Zeal Global Services IPO subscription status was 4.06 times on day 3. The issue received positive response from retail investors who's portion set was subscribed 3.85 times, and non-institutional buyers who's portion set was subscribed 4.26 times, according to data on chittorgarh.com.

On day 2, Zeal Global Services IPO subscription status was 1.37 times and on day 1 Zeal Global Services IPO was subscribed 67%.

Zeal Global Services Limited, a company founded in 2014, specialises in providing logistical solutions for the air cargo industry. The business has its headquarters in Delhi and also provides its services in other places. The business acts as a GSSA, or general sales and service agent, as well as an airline's sales partner in the area.

Zeal Global Services IPO GMP today or grey market premium is +1. On the listing day, shares of Zeal Global Services IPO GMP were trading at a premium of ₹1 in the grey market, according to topsharebrokers.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Zeal Global Services share price is ₹104 apiece, which is 0.97% higher than the IPO price of ₹104.

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