Zaggle IPO Particulars & GuidanceZaggle 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 Grey market premium dpboss
    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.

    # This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

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    Zaggle IPO GMP

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