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    « Airox Tech files IPO papers to raise Rs 750 crore
    Forthcoming IPOs: Main board & SMEs »
    Zaggle Prepaid files IPO documents
    December 22, 2022 admin Leave a reply [ssba] Post Comment

    Zaggle Prepaid Ocean Services IPO Zaggle Prepaid Ocean Services files IPO documents

    About the Company & its business:
    Telangana based Zaggle Prepaid Ocean Services is a leading player in spend management, with a differentiated value proposition and diversified user base. Incorporated in 2011, it operates in a segment where it interacts and interfaces with its customers and end Users and are among a small number of uniquely
    positioned players with a diversified offering of financial technology (“fintech”) products and services, having one of the largest numbers of issued prepaid cards in India in partnership with certain of its banking partners (12.7% of the country’s total prepaid transaction value as of March 31, 2022), a diversified portfolio of software as a service (“SaaS”), including tax and payroll software, and a wide touchpoint reach.
    It is sector-agnostic, and our network of corporate customers (“Customers”) covers the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobile industries, among others, where it has relationships with brands such as TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP – Sanjiv Goenka Group), Hiranandani group, Cotiviti and Greenply Industries.
    It is placed at the intersection of the SaaS and fintech ecosystems, and its 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) a gift card management for merchants, which it refers to as customer engagement management system.
    For more information about the company, click www.zaggle.in

    Promoters:
    RAJ P NARAYANAM AND AVINASH RAMESH GODKHINDI

    Size of the IPO
    Fresh issue of capital Rs. 490 Cr
    Offer for sale of 10526316 shares of Rs. 1 each

    Objective of the IPO
    The Offer comprises the Fresh Issue and the Offer for Sale
    The Company proposes to utilise the Net Proceeds towards funding of the following objects:
    1. Expenditure towards Customer acquisition and retention;
    2. Expenditure towards development of technology and products;
    3. Repayment/ pre-payment of certain borrowings, in full or part, availed by the Company.

    Lead Managers to the IPO
    ICICI Securities Limited
    Equirus Capital Private Limited
    IIFL Securities Limited
    JM Financial Limited
    Registrar to the IPO
    KFin Technologies Limited

    « Airox Tech files IPO papers to raise Rs 750 crore
    Forthcoming IPOs: Main board & SMEs »

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