Zaggle IPO GMP, Details, Guidance, Subscription & listing @ Chanakyanipothi.com, India`s Oldest Investment & IPO website.
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Zaggle IPO Listing Review.
The scrip offered at Rs. 164, got listing at the same price. No listing gains, yet if you are long term investor, you may retain the shares for higher returns.
Zaggle Prepaid Ocean IPO Anchor Portion:
Zaggle Prepaid Ocean Services has raised Rs 253.52 crore from 23 anchor investors on September 13, a day before the spend management solutions company’s initial public offering opens.
Morgan Stanley Asia (Singapore), Matthews Asia Funds, Neuberger Berman Emerging Markets Equity Fund, Eastspring Investments India Fund, Astorne Capital VCC – Arven, Copthall Mauritius Investment, Societe Generale, and Goldman Sachs (Singapore), and Natixis International Funds were among the marquee investors that participated in the anchor book as part of qualified institutional buyers (QIB).
Other investors such as Kotak Equity Opportunities Fund, ICICI Prudential, LIC Mutual Fund, Abakkus Diversified Alpha Fund, Turnaround Opportunities Fund, Elara India Opportunities Fund, Valuequest Scale Fund, Founders Collective Fund, and Ananta Capital Ventures Fund also invested in Zaggle via the anchor book.
What is the current grey market premium for Zaggle Prepaid Ocean Services IPO ?
Premium: Rs.14
Kostak Rs. –
Subject to buyer price Rs. 14000
Zaggle Prepaid Ocean Services IPO Subscription
On 18 September 2023 @ 5.00 (Day 3) Closed
Review: Strong fundamentals may attract subscriptions
QIB: 10432256 Shares 16.73 T
NII(10L+): 3557802 Shares 10.00 T
NII (<10L) 1778901 Shares 6.53 T
NII (Total) 5336703 Shares 8.85 T
RII: 3557802 Shares 5.94 T
Total: 19326761 Shares 12.57 T
Zaggle Prepaid Ocean Services Promoters
RAJ P NARAYANAM AND AVINASH RAMESH GODKHINDI
Zaggle Prepaid Ocean Services Company Details
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, click www.zaggle.in
Objects 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.
Zaggle Prepaid Ocean IPO Details | |
IPO opens on | 14 September 2023 |
IPO closes on | 18 September 2023 |
Issue Type | Book Built Issue IPO |
Issue Size | 343,52,255 Sh /Rs 563.38 Cr |
* Fresh Issue | 239,02,439 Sh / Rs.392 Cr |
* Offer for Sale | 104,49,816 Sh/Rs 171.38 Cr |
Face Value per share: | Rs. 1 |
Price Band | Rs. 156-164 |
Employee discount | Rs. 0 per share |
Retail Lot Size | 90 Shares |
Listing will at | BSE, NSE |
Shares offered to | Shares | Rs. |
QIB (75 %) | 25764191 | 422.53 Cr |
NII (15 %) | 5152838 | 84.51 Cr |
RII (10 %) | 3435226 | 56.34 Cr |
Employees | – | 0 Cr |
Total Shares | 34352255 | 563.38 Cr |
Retail portion will be oversubscribed by | 38169 Forms | |
How much Shares to Apply? | Rs. | |
Min Retail Application | 90 Sh | 14760 |
Max Retail Application | 1170 Sh | 191880 |
Small HNI (Min) application | 1260 Sh | 206640 |
Small HNI (Max) application | 6030 Sh | 988920 |
Big HNI Application | 6120 Sh | 103680 |
Zaggle Prepaid Ocean IPO Tentative timetable | |
IPO opens on | 14 Sept 2023 |
IPO Closes on | 18 Sept 2023 |
IPO Allotment on | 22 Sept 2023 |
Unblocking of ASBA | 25 Sept 2023 |
Credit of Shares | 26 Sept 2023 |
Listing on | 27 Sept 2023 |
Registered Office of Zaggle Prepaid Ocean | |
301, III Floor, CSR Estate, Plot No.8, Sector 1, HUDA Techno Enclave, Madhapur Main Road, Hyderabad, Rangareddi 500 081, Telangana | |
Lead Managers | |
ICICI Securities Limited, Equirus Capital IIFL Securities Limited, JM Financial Limited |
|
Registrar to IPO | |
KFin Technologies Limited |
Zaggle Prepaid Ocean IPO Financial & Analytical Ratios | ||||
Year | Total Income | Net Profit | EPS | RoNW |
Rs. in Cr. | Rs.in Cr. | Rs. | % | |
2020-21 | 239.97 | 19.33 | 2.11 | (42.4) |
2021-22 | 371.25 | 41.92 | 4.57 | (1178) |
2022-23 | 553.46 | 22.90 | 2.46 | 46.98 |
Book Value of the Share on | 31.03.2023 | Rs.5.29 | ||
Book Value of the Share | after the IPO | Rs.44.12 | ||
Offer Price | Rs. 164 |
Ratio Analysis | |
Price Band/last EPS | 66.13 |
Upper offer price/Book Value Ratio | 31.00 |
Upper offer price/BV after IPO Ratio | 3.18 |
Zaggle IPO Particulars & Guidance
Peer Comparison
There are no Indian listed companies or global listed companies that are of comparable size, belong to the same industry as us or with a business model similar to that of the Company.
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