Zaggle Prepaid Ocean Services Limited IPO is worth Rs 563.38 crores. The offering consists of a fresh issue of 2.39 crores shares totaling Rs. 392.000 crores and an offer to sell 1.04 crores shares totaling Rs. 171.38 crores.
The subscription period for the Zaggle Prepaid Ocean Services IPO auction began on September 14, 2023, and it will end on September 18, 2023. On Friday, September 22, 2023, the allocation for the Zaggle Prepaid Ocean Services IPO is anticipated to be completed. The tentative listing date for Zaggle Prepaid Ocean Services IPO is set for Wednesday, September 27, 2023 on the BSE and NSE.
Prepaid Ocean Services by Zaggle The pricing range for the IPO is between 156 and 164 per share. 90 Shares are the bare minimum lot size for an application. Retail investors are required to make an investment of at least 14,760. For both sNII and bNII, the minimum lot size investment is 14 lots (1,260 shares), or 206,640, and 68 lots (6,120 shares), or 1,003,680.
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of 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.
Zaggle Prepaid Ocean Services IPO Details
| IPO Date | September 14, 2023 to September 18, 2023 |
| Listing Date | [.] |
| 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 Reservation
Zaggle Prepaid Ocean Services IPO a total of 34,352,255 shares are offered. QIB: 10,305,677 (30.00%), RII: 3,435,225 (10.00%), NII: 5,152,838 (15.00%).
| Anchor Investor Shares Offered | 15,458,515 (45.00%) |
| QIB Shares Offered | 10,305,677 (30.00%) |
| NII (HNI) Shares Offered | 5,152,838 (15.00%) |
| Retail Shares Offered | 3,435,225 (10.00%) |
| Total Shares Offered | 34,352,255 (100%) |
Zaggle Prepaid Ocean Services IPO Anchor Investors Details
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) | November 7, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 2, 2024 |
Zaggle Prepaid Ocean Services IPO Timeline
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 | Wednesday, September 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 18, 2023 |
Zaggle Prepaid Ocean Services IPO Lot Size
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 | |||
About Zaggle Prepaid Ocean Services
Through automated and creative workflows, Zaggle Prepaid Ocean Services Limited, a 2011 incorporation, offers financial technology (fintech) goods and services to control corporate business expenses.
The business supplies corporations in the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automotive industries with fintech and SaaS goods and services. The SaaS platform is made for: (i) business spend management (including expense management and vendor management); (ii) rewards and incentive management for channel partners and employees; and (iii) gift card management for merchants, which we refer to as customer engagement management system (CEMS).
Among the products offered by Zaggle are:
Propel is a business SaaS platform for channel incentives, employee recognition, and awards.
Save is a mobile app and SaaS-based platform that provides cost management solutions for company spend management, permitting digitalized employee reimbursements and tax advantages.
CEMS: a system for managing customer engagement that enables businesses to fully control the customer experience, including rewarding customers with gift cards and loyalty rewards.
In lieu of cash payments or direct deposits into bank accounts, consumers can pay freelancers, consultants, seasonal and temporary workers, and unbanked wage workers using the Zaggle Payroll Card.
Zoyer is a comprehensive, data-driven SaaS platform for business spend management that integrates automated finance capabilities into the fundamental workflows for invoicing and payment.
Companies like TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP Sanjiv Goenka Group), Hiranandani Group, Cotiviti, Greenply Industries, and others are clients of Zaggle Prepaid Ocean Services.
By the end of the company’s fiscal year in 2023, it would have over 250 staff, 7 offices spread out across India, over 1750 clients, and over 1.7 million end users.
Key Performance Indicator
Zaggle Prepaid Ocean Services IPO Market Cap is Rs 2002 Cr and P/E (x) is 66.67.
| KPI | Values |
|---|---|
| P/E (x) | 66.67 |
| Post P/E (x) | 87.23 |
| Market Cap (₹ Cr.) | 2002 |
| ROE | 46.98% |
| Debt/Equity | 2.48 |
| EPS (Rs) | 2.46 |
| RoNW | 46.98% |
Review : No other company is listed in this segment , so hard to compare with others.
Unique business model , but valuation is high , also has high debt to equity ratio, I will not apply but I will keep it my radar for future performance.
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