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Zaggle Prepaid Ocean IPO is a book build issue of ₹563.38 crores. The issue is a combination of fresh issue of 2.39 crore shares aggregating to ₹392.00 crores and offer for sale of 1.04 crore shares aggregating to ₹171.38 crores.
Zaggle Prepaid Ocean IPO bidding started from Sep 14, 2023 and ended on Sep 18, 2023. The allotment for Zaggle Prepaid Ocean IPO was finalized on Sep 22, 2023. The shares got listed on BSE, NSE on Sep 22, 2023.
Zaggle Prepaid Ocean IPO price band is set at ₹164.00 per share . The lot size for an application is 90. The minimum amount of investment required by an retail is ₹14,040 (90 shares). The lot size investment for sNII is 14 lots (1,260 shares), amounting to ₹2,06,640, and for bNII, it is 68 lots (6,120 shares), amounting to ₹10,03,680.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Zaggle Prepaid Ocean IPO RHP for detailed Information.
| IPO Date | September 14, 2023 to September 18, 2023 |
| Listing Date | September 22, 2023 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹156 to ₹164 per share |
| Issue Price Final | ₹164 per share |
| Lot Size | 90 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 3,43,52,255 shares (aggregating up to ₹563.38 Cr) |
| Fresh Issue | 2,39,02,439 shares (aggregating up to ₹392.00 Cr) |
| Offer for Sale | 1,04,49,816 shares of ₹1 (aggregating up to ₹171.38 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 12,20,96,758 shares |
Zaggle Prepaid Ocean Services IPO offers total 3,43,52,255 shares. Out of which 2,57,64,192 (75.00%) allocated to QIB, 1,03,05,677 (30.00%) allocated to QIB, 51,52,838 (15.00%) allocated to NII, 34,35,225 (10.00%) allocated to RII and 1,54,58,515 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,57,64,192 (75.00%) | NA |
| − Anchor Investor Shares Offered | 1,54,58,515 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,03,05,677 (30.00%) | NA |
| NII (HNI) Shares Offered | 51,52,838 (15.00%) | NA |
| − bNII > ₹10L | 34,35,225 (10.00%) | 2,726 |
| − sNII < ₹10L | 17,17,613 (5.00%) | 1,363 |
| Retail Shares Offered | 34,35,225 (10.00%) | 38,169 |
| Total Shares Offered | 3,43,52,255 (100.00%) |
Zaggle Prepaid Ocean IPO raises ₹253.52 crore from anchor investors. Zaggle Prepaid Ocean IPO Anchor bid date is September 13, 2023. Zaggle Prepaid Ocean IPO Anchor Investors list
| Bid Date | September 13, 2023 |
| Shares Offered | 1,54,58,515 |
| 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 IPO opens on September 14, 2023, and closes on September 18, 2023.
| IPO Open Date | Thu, Sep 14, 2023 |
| IPO Close Date | Mon, Sep 18, 2023 |
| Tentative Allotment | Fri, Sep 22, 2023 |
| Initiation of Refunds | Mon, Sep 25, 2023 |
| Credit of Shares to Demat | Tue, Sep 26, 2023 |
| Tentative Listing Date | Fri, Sep 22, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Sep 18, 2023 |
Investors can bid for a minimum of 90 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,760 |
| Retail (Max) | 13 | 1,170 | ₹1,91,880 |
| S-HNI (Min) | 14 | 1,260 | ₹2,06,640 |
| S-HNI (Max) | 67 | 6,030 | ₹9,88,920 |
| B-HNI (Min) | 68 | 6,120 | ₹10,03,680 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - 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 |
| Total Income | 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 IPO is ₹2002.00 Cr.
| KPI | Values |
|---|---|
| ROE | 46.98% |
| Debt/Equity | 2.48 |
| RoNW | 46.98% |
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...
| Listing Date | September 22, 2023 |
| BSE Script Code | 543985 |
| NSE Symbol | ZAGGLE |
| ISIN | INE07K301024 |
| Final Issue Price | ₹164 per share |
| BSE Listing Group | B |
Zaggle Prepaid Ocean Services Ltd.
301, III Floor, CSR Estate, Plot No.8,
Sector 1, HUDA Techno Enclave, Madhapur Main Road,
Hyderabad, Rangareddi - 500 081
Hyderabad, Telangana
Phone: +91 40 2311 9049
Email: haripriya.singh@zaggle.in
Website: https://www.zaggle.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: zaggle.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Zaggle Prepaid Ocean IPO is a main-board IPO of 3,43,52,255 equity shares of the face value of ₹1 aggregating up to ₹563.38 Crores. The issue is priced at ₹164 per share. The minimum order quantity is 90.
The IPO opens on September 14, 2023, and closes on September 18, 2023.
Kfin Technologies Ltd. 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 IPO using UPI as a payment gateway. Zerodha customers can apply in Zaggle Prepaid Ocean IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Zaggle Prepaid Ocean IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Zaggle Prepaid Ocean IPO opens on September 14, 2023 and closes on September 18, 2023.
Zaggle Prepaid Ocean IPO lot size is 90, and the minimum amount required for application is ₹14,760.
You can apply in Zaggle Prepaid Ocean IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Zaggle Prepaid Ocean 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 IPO allotment status.
The Zaggle Prepaid Ocean IPO listing date is on Friday, September 22, 2023.
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