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Zaggle Prepaid Ocean Services IPO GMP, Price, Dates & Allotment Details 2023

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 Ratio2.48
ROE46.98%
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:

  1. Expenditure towards Customer acquisition and retention.
  2. Expenditure towards the development of technology and products.
  3. Repayment/ pre-payment of certain borrowings, in full or part, availed by the company.
  4. General corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23
Net Worth48.75
Total Assets234.76
Reserve & Surplus39.36
Total Borrowings121.07
Total Revenue554.58
Profit After Tax22.90
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 156 to ₹ 164 per share
Face Value₹ 1 per share
Market Lot90 Shares
Issue Size34,352,255 shares (aggregating up to ₹ 563.38 crores)
Fresh Issue23,902,439 shares (aggregating up to ₹ 392 crores)
Offer for Sale10,449,816 shares (aggregating up to ₹ 171.38 crores)
Listing AtNSE and  BSE

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 75% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot 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 DateSeptember 14, 2023
Closing DateSeptember 18, 2023
Basis of AllotmentSeptember 22, 2023
Initiation of RefundsSeptember 25, 2023
A credit of shares to Demat A/cSeptember 26, 2023
Listing DateSeptember 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)190₹ 14,760
Retail (Maximum)131,170₹ 191,880
S-HNI (Minimum)141,260₹ 206,640
S-HNI (Maximum)676,030₹ 988,920
B-HNI (Minimum)686,120₹ 1,003,680

Promoters Holdings 

Mr. Raj P Narayanam and Mr. Avinash Ramesh Godkhindi are the promoters of the company.

Pre-issue Shares Holdings57.91%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationZaggle 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: [email protected]
Website: https://www.zaggle.in/
IPO RegistrarKFIN Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com/ipostatus/
IPO Lead Manager(s)• ICICI Securities Limited 
• Equirus Capital Private Limited 
• IIFL Securities Ltd 
• JM Financial Limited 

FAQs

The Zaggle Prepaid Ocean Services IPO price is ₹ 156 to ₹ 164 per share.

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.

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.

The Zaggle Prepaid Ocean Services IPO shares listing date is September 27, 2023.

The investors’ portion for QIB is 75% of the Net offers, NII (HNI) is 15%, and retail is 10% of the offer.

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