Zaggle Prepaid Ocean Services IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Zaggle Prepaid Ocean Services IPO will open on September 14 and close on September 18, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 563.38 crore through this public offering, consisting of 34,352,255 shares with a face value of ₹ 1 each, which will be issued at a price of ₹ 156 to ₹ 164 per share.
Zaggle Prepaid Ocean Services Limited (“the Company”)
Zagel Prepaid Ocean Services Ltd. was incorporated in 2011. The company is engaged in the business of providing fintech solutions to manage corporate business expenses through automated and innovative workflows.
The company is a leading player in expense management with a differentiated value proposition and a diverse user base.
Companies operate in a segment where they interact and interface with their customers (i.e., businesses) and end users (i.e., employees) and are uniquely positioned with a diverse offering of financial technology (“FinTech”) products. Are one of a small number of players. Services, one of the largest numbers of prepaid cards issued in India in partnership with some of its banking partners (12.7% of the country’s total prepaid transaction value as of March 31, 2022), a diverse software as a service , including tax and payroll software, and a broad touchpoint reach
The company is sector-agnostic, and its network of corporate clients (“clients”) covers the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile industries, where they have relationships with brands such as Tata Steel. are Persistent Systems, Vitek, Inox, Pitney Bowes, Wockhardt, Mazda, PCBL (RP-Sanjiv Goenka Group), Hiranandani Group, Cotiviti, and Greenply Industries.
Company Key Metrics
| Earning Per Share (EPS) | ₹ 2.46 per Equity Share |
| Debt to Equity Ratio | 2.48 |
| ROE | 46.98% |
| P/E (x) | 66.67 |
| Return on Net Worth (RoNW) | 46.98% |
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Expenditure towards Customer acquisition and retention.
- Expenditure towards the development of technology and products.
- Repayment/ pre-payment of certain borrowings, in full or part, availed by the company.
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 |
|---|---|
| Net Worth | 48.75 |
| Total Assets | 234.76 |
| Reserve & Surplus | 39.36 |
| Total Borrowings | 121.07 |
| Total Revenue | 554.58 |
| Profit After Tax | 22.90 |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 156 to ₹ 164 per share |
| Face Value | ₹ 1 per share |
| Market Lot | 90 Shares |
| Issue Size | 34,352,255 shares (aggregating up to ₹ 563.38 crores) |
| Fresh Issue | 23,902,439 shares (aggregating up to ₹ 392 crores) |
| Offer for Sale | 10,449,816 shares (aggregating up to ₹ 171.38 crores) |
| Listing At | NSE and BSE |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 75% of the net offer |
| NII (HNI) shares offered | Not less than 15% of the offer |
| Retail shares offered | Not less than 10% of the offer |
GMP: Zaggle Prepaid Ocean Services IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Zaggle Prepaid Ocean Services IPO
The issue opens for subscription on September 14, 2023, and closes for subscription on September 18, 2023 (both days inclusive). The basis of allotment will be finalised on September 22, 2023, and the refunds will be initiated on September 25, 2023. In addition, the demat credits are expected to happen on September 26, 2023, and the stock will be listed on the NSE and BSE on September 27, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 14, 2023 |
| Closing Date | September 18, 2023 |
| Basis of Allotment | September 22, 2023 |
| Initiation of Refunds | September 25, 2023 |
| A credit of shares to Demat A/c | September 26, 2023 |
| Listing Date | September 27, 2023 |
Lot Size
The lot size of the Zaggle Prepaid Ocean Services IPO is 90 shares. A retail-individual investor can apply for up to 13 lots, i.e. 1,170 shares of ₹ 191,880.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 90 | ₹ 14,760 |
| Retail (Maximum) | 13 | 1,170 | ₹ 191,880 |
| S-HNI (Minimum) | 14 | 1,260 | ₹ 206,640 |
| S-HNI (Maximum) | 67 | 6,030 | ₹ 988,920 |
| B-HNI (Minimum) | 68 | 6,120 | ₹ 1,003,680 |
Promoters Holdings
Mr. Raj P Narayanam and Mr. Avinash Ramesh Godkhindi are the promoters of the company.
| Pre-issue Shares Holdings | 57.91% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | 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/ |
| IPO Registrar | KFIN Technologies Limited Phone: 04067162222, 04079611000 Email: zaggle.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
| IPO Lead Manager(s) | • ICICI Securities Limited • Equirus Capital Private Limited • IIFL Securities Ltd • JM Financial Limited |
FAQs
What is Zaggle Prepaid Ocean Services’s IPO price?
The Zaggle Prepaid Ocean Services IPO price is ₹ 156 to ₹ 164 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Zaggle Prepaid Ocean Services IPO contains 90 shares of ₹ 14,760.
When will the Zaggle Prepaid Ocean Services IPO allotment be available?
The finalisation of the basis of allotment for the Zaggle Prepaid Ocean Services IPO will be done on September 22, 2023, and the allotted shares will be credited to your demat account by September 26, 2023. Check the Zaggle Prepaid Ocean Services IPO allotment status.
When will the Zaggle Prepaid Ocean Services IPO be listed on exchanges?
The Zaggle Prepaid Ocean Services IPO shares listing date is September 27, 2023.
How many Zaggle Prepaid Ocean Services IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 75% of the Net offers, NII (HNI) is 15%, and retail is 10% of the offer.
