Zaggle IPO Details ( Zaggle Prepaid Ocean Services Limited IPO Review )
(14 Sep 2023 – 18 Sep 2023)
Founded in 2011, Zaggle Prepaid Ocean Services Limited is a fintech company dedicated to simplifying corporate expense management through cutting-edge technology.
We provide fintech and SaaS solutions to a wide range of industries, including banking, finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobiles. Our SaaS platform serves three main purposes:
- Business Spend Management: This includes expense and vendor management.
- Rewards and Incentives Management: We help companies reward their employees and channel partners effectively.
- Gift Card Management: Our customer engagement management system (CEMS) empowers merchants to manage gift cards and loyalty benefits efficiently.
Our product lineup comprises:
- Propel: A corporate SaaS platform for managing channel rewards, employee recognition, and incentives.
- Save: A user-friendly SaaS platform and mobile app for efficient expense management, enabling digitized employee reimbursements and tax benefits.
- CEMS: Our customer engagement management system that allows merchants to enhance customer experiences by offering gift cards and loyalty benefits.
- Zaggle Payroll Card: A prepaid payroll card that simplifies payments to contractors, consultants, seasonal employees, and unbanked wage workers, offering an alternative to direct bank deposits or cash payments.
- Zoyer: An integrated, data-driven, SaaS-based platform for business spend management, with automated finance capabilities in core invoice-to-pay workflows.
Our esteemed clientele includes renowned companies such as TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP Sanjiv Goenka Group), Hiranandani Group, Cotiviti, Greenply Industries, and many more.
As of fiscal 2023, we have a dedicated team of over 250 employees, with a presence in seven offices across India. We proudly serve more than 1750 customers, benefitting over 1.7 million end users.
Zaggle Prepaid Ocean Services Limited IPO Competitive Strength
- Differentiated SaaS-based fintech platform, offering a combination of payment instruments, mobile application and API integrations
- In-house developed technology and strong network effect
- Business model with diverse sources of revenue and low customer acquisition and retention costs
- Diversified customer relationships across sectors along with preferred banking and merchant partnerships
- Seasoned management team with deep domain expertise supported by a professional workforce
Zaggle Prepaid Ocean Services IPO Financials Performance ( Results )
Zaggle Prepaid Ocean Services Limited Financial Information (Restated Consolidated)
All Amount in ₹ Crores
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | NAV (₹) | Reserves | Borrowing |
| 31-Mar-20 | 49.01 | 68.33 | 3.71 | 0.41 | -64.96 | -7.04 | -3.74 | 66.38 |
| 31-Mar-21 | 62.08 | 239.96 | 19.33 | 2.11 | -45.55 | -4.94 | -45.73 | 69.08 |
| 31-Mar-22 | 92.65 | 371.25 | 41.92 | 4.57 | -3.56 | -0.39 | -65.14 | 64.47 |
| 31-Mar-23 | 234.76 | 554.58 | 22.90 | 2.46 | 486.75 | 5.29 | 39.36 | 121.07 |
Objective of IPO Issue
- 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 IPO Basic Details
| IPO Date | Sep 14, 2023 to Sep 18, 2023 |
| Listing Date | Wednesday, September 27, 2023 |
| Face Value | ₹1 per share |
| Price | ₹156 to ₹164 per share |
| Lot Size | 90 Shares |
| Issue Size | 34,352,255 shares of ₹1 (aggregating up to ₹563.38 Cr) |
| Fresh Issue | 23,902,439 shares of ₹1 (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 | NSE, BSE |
| Share holding pre issue | 98,194,319 |
| Share holding post issue | |
| Company Promoters | Raj P Narayanam And Avinash Ramesh Godkhindi |
Zaggle Prepaid Ocean Services IPO Reservation
| QIB Shares Offered | 75% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 10% of the Net Issue |
Zaggle Prepaid Ocean IPO Timetable
Zaggle Prepaid Ocean IPO will open on September 14, 2023 and close on September 18, 2023. You can join Zaggle Prepaid Ocean IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 14 September 2023 (Thursday) |
| Closing Date | 18 September 2023 (Monday) |
| Basis of Allotment | 22 September 2023 (Friday) |
| Initiation of Refunds | 25 September 2023 (Monday) |
| Credit of Shares to Demat | 26 September 2023 (Tuesday) |
| Listing Date | 27 September 2023 (Wednesday) |
| Deadline for UPI mandate confirmation | 5 PM on 18 September 2023 |
Zaggle Prepaid IPO Lot Size
For retail investors in Zaggle Prepaid IPO, 90 shares will come in 1 lot or the minimum investment will be ₹14,760. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹191,880.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 90 | ₹14,760 |
| Retail (Max) | 13 | 1170 | ₹191,880 |
| S-HNI (Min) | 14 | 1260 | ₹206,640 |
| S-HNI (Max) | 67 | 6030 | ₹988,920 |
| B-HNI (Min) | 68 | 6120 | ₹1,003,680 |
Zaggle Prepaid IPO Promoter Holding
The company’s promoters include Raj P Narayanam And Avinash Ramesh Godkhindi.
| Pre Issue Share Holding | 57.91% |
| Post Issue Share Holding | – |
Zaggle Prepaid Ocean Services Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 2002 |
| Earning Per Share (EPS) | ₹2.46 per Equity Share |
| Net Asset Value (NAV) | ₹5.29 per Equity Share |
| P/E Ratio (P/E) (x) | 66.67 |
| Return on Net Worth (RoNW) (%) | 46.98 |
| Return on equity (ROE) (%) | 46.98 |
| Return on Capital Employed (ROCE) (%) | Coming Soon |
| Debt/Equity Ratio | 2.48 |
Zaggle Prepaid Ocean Services Ltd Peer Comparison
The company has a unique position in the SaaS and fintech industries due to its diverse product range. There are no comparable companies in India or globally, making industry comparisons impossible.
Zaggle IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| 14 September 2023 | ₹36 | – | – |
| 13 September 2023 | ₹25 | – | – |
| 12 September 2023 | ₹25 | – | – |
| 11 September 2023 | ₹0 | – | – |
Zaggle IPO Detail Video:
link
Zaggle IPO Subscription Status (Bidding Detail)
The Zaggle IPO on September 18, 2023 at 7:30:00 PM was subscribed 12.86 times, with the retail category being subscribed 6.15 times, the NII (Non-Institutional Investor) category being subscribed 9.16 times, QIB (Qualified-Institutional Buyers) category being subscribed 16.94 times.
| Category | Subscription |
| QIB | 16.94x |
| NII | 9.16x |
| Retail | 6.15x |
| Total | 12.86x |
Zaggle IPO Prospectus
| Zaggle Prepaid Ocean Services IPO DRHP | Download |
| Zaggle Prepaid Ocean Services IPO RHP | Download |
| Zaggle Prepaid Ocean Services IPO Anchor Investors Details PDF | Download |
Zaggle Prepaid Ocean Services IPO Rating
| Our Rating | 3.0/5.0 |
Zaggle Prepaid Ocean Services Company Contact Information
Zaggle Prepaid Ocean Services Limited
Registered Office: 301, III Floor, CSR Estate, Plot No.8, Sector 1, HUDA Techno Enclave, Madhapur Main Road, Hyderabad, Rangareddi 500 081, Telangana, India
Telephone: +91 40 2311 9049
Corporate Office: B1-004, Ground Floor, Boomerang Building, C.T.S. No. 4A, Village Saki Naka, Andheri (East), Taluka Kurla, District Mumbai Suburban, Mumbai, 400 072, Maharashtra, India
Telephone: +91 22 48794879
Contact Person: Hari Priya, Company Secretary and Compliance Officer
Telephone: +91 40 2311 9049
E-mail: haripriya.singh@zaggle.in
Website: www.zaggle.in
Corporate Identity Number: U65999TG2011PLC074795
Our Promoters: Raj P Narayanam And Avinash Ramesh Godkhindi
Zaggle Prepaid Ocean Services IPO Registrar
KFin Technologies Limited
Registered Office: Selenium, Tower-B Plot 31 and 32, Financial District
Nanakramguda, Serilingampally Hyderabad, Rangareddi 500 032
Telangana, India
Telephone: +91 40 6716 2222
E-mail: zaggle.ipo@kfintech.com
Website: www.kfintech.com
Investor grievance e-mail: einward.ris@kfintech.com
Contact person: M Murali Krishna
SEBI registration no.: INR000000221
Zaggle Prepaid Ocean Services IPO Lead Manager
ICICI Securities Limited
Registered Office: ICICI Venture House Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025, Maharashtra, India
Telephone: + 91 22 6807 7100
E-mail: zaggle.ipo@icicisecurities.com
Website: www.icicisecurities.com
Investor grievance e-mail: customercare@icicisecurities.com
Contact person: Harsh Thakkar/ Sumit Singh
SEBI registration no.: INM000011179
Equirus Capital Private Limited
Registered Office: 12th Floor, C Wing Marathon Futurex N M Joshi Marg,
Lower Parel, Mumbai 400 013, Maharashtra, India.
Telephone: +91 22 4332 0736
E-mail: zaggle.ipo@equirus.com
Website: www.equirus.com
Investor grievance e-mail: investorsgrievance@equirus.com
Contact person: Malay Shah
SEBI registration no.: INM000011286
IIFL Securities Limited
Registered Office: 10th Floor, IIFL Centre Kamala City, Senapati Bapat Marg
Lower Parel (West), Mumbai 400 013, Maharashtra, India
Telephone: +91 22 4646 4728
E-mail: zaggle.ipo@iiflcap.com
Website: www.iiflcap.com
Investor grievance e-mail: ig.ib@iiflcap.com
Contact person: Pawan Jain/ Shirish Chikalge
SEBI registration no.: INM000010940
JM Financial Limited
Registered Office: 7th Floor, Cnergy Appasaheb Marathe Marg, Prabhadevi
Mumbai 400 025 Maharashtra, India
Telephone: +91 22 6630 3030
E-mail: zaggle.ipo@jmfl.com
Website: www.jmfl.com
Investor grievance e-mail: grievance.ibd@jmfl.com
Contact person: Prachee Dhuri
SEBI registration no.: INM000010361
Zaggle Prepaid Ocean Services IPO FAQs
What is the lot size of Zaggle Prepaid Ocean Services IPO?
The total size of Zaggle Prepaid Ocean Services IPO is ₹563.38 crores out of which ₹392.00 crores is fresh issue and ₹171.38 crores is offer for sale (OFS).
When will Zaggle Prepaid Ocean Services IPO start?
Zaggle Prepaid Ocean Services IPO will open from 14 September 2023 and IPO will close on 18 September 2023.
What is the open date of Zaggle Prepaid Ocean Services IPO?
Zaggle Prepaid Ocean Services IPO will open date from 14 September 2023.
What is the last date ( close date ) of Zaggle Prepaid Ocean Services IPO?
Zaggle Prepaid Ocean Services IPO will close from 18 September 2023.
What is the price band of Zaggle Prepaid Ocean Services IPO?
Zaggle Prepaid Ocean Services IPO price band is ₹156 to ₹164. ( Upper Price Band: ₹164, Lower Price Band: ₹156 )
What is the minimum amount required to apply for Zaggle Prepaid Ocean Services IPO?
The minimum investment for retailers to apply for Zaggle Prepaid Ocean Services IPO is ₹14,760 and the maximum investment is ₹191,880.
What is going on gray market premium of Zaggle Prepaid Ocean Services IPO?
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How much is the GMP of Zaggle Prepaid Ocean Services IPO?
Watch Zaggle Prepaid Ocean Services IPO GMP Today: Click Here
What is the allotment date of Zaggle Prepaid Ocean Services IPO?
The allotment date of Zaggle Prepaid Ocean Services IPO is 22 September 2023.
How to check allotment status in Zaggle Prepaid Ocean Services IPO?
To check the allotment status of Zaggle Prepaid Ocean Services IPO, first of all go to the registrar website by clicking here, select your bad Zaggle Prepaid Ocean Services IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Zaggle Prepaid Ocean Services IPO?
The listing date of Zaggle Prepaid Ocean Services IPO is 27 September 2023.
How much will be the listing gain in Zaggle Prepaid Ocean Services IPO?
View listing gain of Zaggle Prepaid Ocean Services IPO by Clicking Here
How much time Zaggle Prepaid Ocean Services IPO is subscribed?
Total 12.86 times subscribed in Zaggle Prepaid Ocean Services IPO out of which 6.15 times subscription was done in retail quota, 9.16 times subscription in NII quota and 16.94 times subscription in QIB quota.
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