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Zaggle Prepaid Ocean Services IPO is a book built issue of Rs 563.38 crores. The issue is a combination of fresh issue of 2.39 crore shares aggregating to Rs 392.00 crores and offer for sale of 1.04 crore shares aggregating to Rs 171.38 crores.
Zaggle Prepaid Ocean Services IPO bidding started from September 14, 2023 and ended on September 18, 2023. The allotment for Zaggle Prepaid Ocean Services IPO was finalized on Friday, September 22, 2023. The shares got listed on BSE, NSE on September 22, 2023.
Zaggle Prepaid Ocean Services IPO price band is set at ₹156 to ₹164 per share. The minimum lot size for an application is 90 Shares. The minimum amount of investment required by retail investors is ₹14,760. The minimum lot size investment for sNII is 14 lots (1,260 shares), amounting to ₹206,640, and for bNII, it is 68 lots (6,120 shares), amounting to ₹1,003,680.
ICICI Securities Limited, Equirus Capital Private Limited, Iifl Securities Ltd and Jm Financial Limited are the book running lead managers of the Zaggle Prepaid Ocean Services IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Zaggle Prepaid Ocean Services IPO RHP for detailed information.
| IPO Date | September 14, 2023 to September 18, 2023 |
| Listing Date | September 22, 2023 |
| Face Value | ₹1 per share |
| Price Band | ₹156 to ₹164 per share |
| Lot Size | 90 Shares |
| Total Issue Size | 34,352,255 shares (aggregating up to ₹563.38 Cr) |
| Fresh Issue | 23,902,439 shares (aggregating up to ₹392.00 Cr) |
| Offer for Sale | 10,449,816 shares of ₹1 (aggregating up to ₹171.38 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 98,194,319 |
| Share holding post issue | 122,096,758 |
Zaggle Prepaid Ocean Services IPO offers 34,352,255 shares. 10,305,677 (30.00%) to QIB, 5,152,838 (15.00%) to NII, 3,435,225 (10.00%) to RII 15,458,515 (45.00%) to Anchor investors. 38,169 RIIs will receive minimum 90 shares and 1,363 (sNII) and 2,726 (bNII) will receive minimum 1,260 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 15,458,515 (45.00%) | NA |
| QIB Shares Offered | 10,305,677 (30.00%) | NA |
| NII (HNI) Shares Offered | 5,152,838 (15.00%) | |
| bNII > ₹10L | 3,435,225 (10.00%) | 2,726 |
| sNII < ₹10L | 1,717,613 (5.00%) | 1,363 |
| Retail Shares Offered | 3,435,225 (10.00%) | 38,169 |
| Total Shares Offered | 34,352,255 (100%) |
Zaggle Prepaid Ocean Services IPO raises Rs 253.52 crore from anchor investors. Zaggle Prepaid Ocean Services IPO Anchor bid date is September 13, 2023. Zaggle Prepaid Ocean Services IPO Anchor Investors list
| Bid Date | September 13, 2023 |
| Shares Offered | 15,458,515 |
| Anchor Portion Size (In Cr.) | 253.52 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 22, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 21, 2023 |
Zaggle Prepaid Ocean Services IPO opens on September 14, 2023, and closes on September 18, 2023.
| IPO Open Date | Thursday, September 14, 2023 |
| IPO Close Date | Monday, September 18, 2023 |
| Basis of Allotment | Friday, September 22, 2023 |
| Initiation of Refunds | Monday, September 25, 2023 |
| Credit of Shares to Demat | Tuesday, September 26, 2023 |
| Listing Date | Friday, September 22, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 18, 2023 |
Investors can bid for a minimum of 90 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,760 |
| Retail (Max) | 13 | 1170 | ₹191,880 |
| S-HNI (Min) | 14 | 1,260 | ₹206,640 |
| S-HNI (Max) | 67 | 6,030 | ₹988,920 |
| B-HNI (Min) | 68 | 6,120 | ₹1,003,680 |
| Lot Size Calculator | |||
Mr. Raj P Narayanam and Mr. Avinash Ramesh Godkhindi are the promoters of the company.
| Share Holding Pre Issue | 57.91% |
| Share Holding Post Issue |
Incorporated in 2011, Zaggle Prepaid Ocean Services Limited provides financial technology (fintech) products and services to manage corporate business expenses through automated and innovative workflows.
The company offers fintech and SaaS products and services to corporates working in the fields of banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile industries. The SaaS platform is designed for: (i) business spend management (including expense management and vendor management); (ii) rewards and incentives management for employees and channel partners; and (iii) gift card management for merchants, which we refer to as customer engagement management system (CEMS).
Zaggle's product portfolio includes:
Zaggle Prepaid Ocean Services' clientele includes companies like TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP Sanjiv Goenka Group), Hiranandani Group, Cotiviti, Greenply Industries, and so on.
As of fiscal 2023, the company has over 250 employees, 7 offices across India, more than 1750 customers, and over 1.7 million end users.
| Period Ended | 31 Mar 2023 |
| Assets | 234.76 |
| Revenue | 554.58 |
| Profit After Tax | 22.90 |
| Net Worth | 48.75 |
| Reserves and Surplus | 39.36 |
| Total Borrowing | 121.07 |
The market capitalization of Zaggle Prepaid Ocean Services IPO is Rs 2002 Cr.
| KPI | Values |
|---|---|
| ROE | 46.98% |
| Debt/Equity | 2.48 |
| RoNW | 46.98% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.46 | |
| P/E (x) | 66.67 | 87.23 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is a unique player in fintech products and related services with vide portfolio of offerings. Though the IPO appears aggressively priced, the company is trying to encase the premium for its unique business model. However, well-informed investors may park funds for the medium to long-term rewards. Read detail review...
The Zaggle Prepaid Ocean Services IPO is subscribed 12.86 times on September 18, 2023 7:02:00 PM. The public issue subscribed 6.15 times in the retail category, 16.94 times in the QIB category, and 9.16 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 16.94 |
| NII | 9.16 |
| bNII (bids above ₹10L) | 10.36 |
| sNII (bids below ₹10L) | 6.76 |
| Retail | 6.15 |
| Total | 12.86 |
Total Application : 159,915 (4.19 times)
| Listing Date | September 22, 2023 |
| BSE Script Code | 543985 |
| NSE Symbol | ZAGGLE |
| ISIN | INE07K301024 |
| Final Issue Price | ₹164 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹164.00 |
| ₹162.00 |
| ₹155.60 |
| ₹176.00 |
| ₹158.30 |
| NSE |
|---|
| ₹164.00 |
| ₹164.00 |
| ₹155.30 |
| ₹176.00 |
| ₹158.35 |
Zaggle Prepaid Ocean Services Limited
301, III Floor, CSR Estate, Plot No.8,
Sector 1, HUDA Techno Enclave, Madhapur Main Road,
Hyderabad, Rangareddi - 500 081
Phone: +91 40 2311 9049
Email: haripriya.singh@zaggle.in
Website: https://www.zaggle.in/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: zaggle.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Zaggle Prepaid Ocean Services IPO is a main-board IPO of 34,352,255 equity shares of the face value of ₹1 aggregating up to ₹563.38 Crores. The issue is priced at ₹156 to ₹164 per share. The minimum order quantity is 90 Shares.
The IPO opens on September 14, 2023, and closes on September 18, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Zaggle Prepaid Ocean Services IPO using UPI as a payment gateway. Zerodha customers can apply in Zaggle Prepaid Ocean Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Zaggle Prepaid Ocean Services IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Zaggle Prepaid Ocean Services IPO opens on September 14, 2023 and closes on September 18, 2023.
Zaggle Prepaid Ocean Services IPO lot size is 90 Shares, and the minimum amount required is ₹14,760.
You can apply in Zaggle Prepaid Ocean Services IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Zaggle Prepaid Ocean Services IPO will be done on Friday, September 22, 2023, and the allotted shares will be credited to your demat account by Tuesday, September 26, 2023. Check the Zaggle Prepaid Ocean Services IPO allotment status.
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