Bookbuilding IPO | ₹563 Cr | Listed at BSE, NSE | Thu, Sep 14, 2023 - Mon, Sep 18, 2023
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 per share. The lot size for an application is 90. The minimum amount of investment required by an retail is ₹14,760 (90 shares) (based on upper price). 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 Open
Thu, Sep 14, 2023
IPO Close
Mon, Sep 18, 2023
Issue Price
₹164 per share
Market Cap (Pre-IPO)
₹2,002.00 Cr
| IPO Date | 14 to 18 Sep, 2023 |
| Listed on | Fri, Sep 22, 2023 |
| Face Value | ₹1 per share |
| Price Band | ₹156 to ₹164 |
| Issue Price | ₹164 per share |
| Lot Size | 90 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,43,52,255 shares (agg. up to ₹563 Cr) |
| Fresh Issue | 2,39,02,439 shares (agg. up to ₹392 Cr) |
| Offer for Sale | 1,04,49,816 shares of ₹1 (agg. up to ₹171 Cr) |
| Share Holding Post Issue | 12,20,96,758 shares |
| BSE Script Code / NSE Symbol | 543985 / ZAGGLE |
| ISIN | INE07K301024 |
Zaggle Prepaid Ocean 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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 90 shares and in multiples thereof.
| 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 |
Zaggle Prepaid Ocean IPO raises ₹253.52 crore from anchor investors. Zaggle Prepaid Ocean IPO Anchor bid date is September 13, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Sep 13, 2023 |
| Shares Offered | 1,54,58,515 |
| Anchor Portion (₹ Cr.) | 253.52 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Oct 22, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Dec 21, 2023 |
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 |
| Amount in ₹ Crore | |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expenditure towards Customer acquisition and retention | 300.00 |
| 2 | Expenditure towards development of technology and products | 40.00 |
| 3 | Repayment or prepayment of certain borrowings, in full or part, availed by our Company; and | 17.08 |
| 4 | General corporate purposes | 5.10 |
| KPI | |
|---|---|
| ROE | 46.98% |
| Debt/Equity | 2.48 |
| RoNW | 46.98% |
| PAT Margin | 4.14% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.46 | |
| P/E (x) | 66.67 | 87.23 |
| Promoter Holding | 57.91% | |
| Market Cap | ₹2,002.00 Cr. |
The Zaggle Prepaid Ocean Services IPO is subscribed 12.86 times on September 18, 2023 7:02:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 16.94 | 1,03,05,677 | 17,45,56,440 |
| NII | 9.16 | 51,52,838 | 4,72,10,040 |
| bNII (bids above ₹10L) | 10.36 | 34,35,225 | 3,55,91,670 |
| sNII (bids below ₹10L) | 6.76 | 17,17,613 | 1,16,18,370 |
| Retail | 6.15 | 34,35,225 | 2,11,16,610 |
| Total | 12.86 | 1,88,93,740 | 24,28,83,090 |
Total Application : 1,59,915
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission) | 23.41 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids (other than Bids submitted by RIBs using the UPI Mechanism) procured by the members of the Syndicate, the Registered Brokers, CRTAs or CDPs and submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Banks for Bids made by RIBs | 0.81 |
| 3 | Selling commission and uploading charges payable to members of the Syndicate (including their Sub-Syndicate Members), RTAs, CDPs and Registered Brokers | |
| 4 | Fees payable to the Registrar to the Offer | 0.03 |
| 5 | Fees payable to Joint Statutory Auditors, independent chartered accountant and market research firms | 2.46 |
| 6 | Others: Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses. | 3.42 |
| 7 | Printing and stationery | 0.88 |
| 8 | Advertising and marketing expenses | 2.72 |
| 9 | Fee payable to legal counsel | 6.30 |
| 10 | Miscellaneous | 1.56 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹164.00 | ₹164.00 |
| Open | ₹162.00 | ₹164.00 |
| Low | ₹155.60 | ₹155.30 |
| High | ₹176.00 | ₹176.00 |
| Last Trade | ₹158.30 | ₹158.35 |
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 Crores. The issue is priced at ₹164 per share. The minimum order quantity is 90.
The IPO opens on Thu, Sep 14, 2023, and closes on Mon, Sep 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 Thu, Sep 14, 2023 and closes on Mon, Sep 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 Tue, Sep 26, 2023. Check the Zaggle Prepaid Ocean IPO allotment status.
The Zaggle Prepaid Ocean IPO listing date is on Fri, Sep 22, 2023.
