Zaggle Prepaid Ocean Services Limited IPO Detail

Rate this post

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:

  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.

Zaggle Prepaid Ocean Services IPO Details

IPO DateSeptember 14, 2023 to September 18, 2023
Listing Date[.]
Face Value₹1 per share
Price Band₹156 to ₹164 per share
Lot Size90 Shares
Total Issue Size34,352,255 shares
(aggregating up to ₹563.38 Cr)
Fresh Issue23,902,439 shares
(aggregating up to ₹392.00 Cr)
Offer for Sale10,449,816 shares of ₹1
(aggregating up to ₹171.38 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue98,194,319
Share holding post issue122,096,758
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 Offered15,458,515 (45.00%)
QIB Shares Offered10,305,677 (30.00%)
NII (HNI) Shares Offered5,152,838 (15.00%)
Retail Shares Offered3,435,225 (10.00%)
Total Shares Offered34,352,255 (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 DateSeptember 13, 2023
Shares Offered15,458,515
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 DateThursday, September 14, 2023
IPO Close DateMonday, September 18, 2023
Basis of AllotmentFriday, September 22, 2023
Initiation of RefundsMonday, September 25, 2023
Credit of Shares to DematTuesday, September 26, 2023
Listing DateWednesday, September 27, 2023
Cut-off time for UPI mandate confirmation5 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.

Retail (Min)190₹14,760
Retail (Max)131170₹191,880
S-HNI (Min)141,260₹206,640
S-HNI (Max)676,030₹988,920
B-HNI (Min)686,120₹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.

P/E (x)66.67
Post P/E (x)87.23
Market Cap (₹ Cr.)2002
EPS (Rs)2.46

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.

Also read :

How do you play Powerball? A beginner’s guide to Powerball rules and potential prizes

Spread the love

Leave a Comment