The Zaggle Prepaid Ocean Services IPO started on September 14, 2023, and ended on September 18, 2023. Shares were allocated on September 22, 2023, and refund processes began on September 25, 2023. On September 26, 2023, the shares were credited to investors demat accounts. Zaggle Prepaid Ocean Services was officially listed on the stock exchange on September 27, 2023.
During the IPO, Zaggle Prepaid Ocean Services offered shares at a price range of ₹156 to ₹164 per share, and the lot size was 90 shares. The total issue size was ₹563.38 crores, with ₹392.00 crores from new shares and ₹171.38 crores from shares for sale. The IPO was listed on both the NSE and BSE.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
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Zaggle Prepaid Ocean Services IPO Subscription Status
The Zaggle Prepaid Ocean Services IPO on September 18, 2023 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, the 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 Prepaid Ocean Services IPO Basic Details
| Company Name | Zaggle Prepaid Ocean Services Limited |
| Domain of Company | Financial Technology (Fintech) |
| IPO Open Date | September 14, 2023 |
| IPO Close Date | September 18, 2023 |
| IPO Allotment Date | September 22, 2023 |
| IPO Listing Date | 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 |
| Company Promoters | Raj P Narayanam And Avinash Ramesh Godkhindi |
About Zaggle Prepaid Ocean Services Limited
Zaggle Prepaid Ocean Services Limited, established in 2011, specializes in providing user-friendly financial technology (fintech) solutions that streamline corporate expense management through smart automation and innovative processes.
Our fintech and Software as a Service (SaaS) offerings cater to a wide range of industries, including banking, finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobiles. Our versatile SaaS platform is designed for three main purposes:
- Business Spend Management: This includes managing expenses and vendors efficiently.
- Rewards and Incentives: We help companies reward their employees and channel partners effectively.
- Customer Engagement Management System (CEMS): We assist merchants in managing customer engagement, particularly through gift card programs.
Our product lineup comprises the following solutions:
- Propel: A corporate SaaS platform for managing channel rewards, employee recognition, and incentives.
- Save: A user-friendly SaaS platform and mobile app designed for easy expense management, digitized employee reimbursements, and tax benefits.
- CEMS: A comprehensive system empowering merchants to enhance customer experiences through gift cards and loyalty benefits.
- Zaggle Payroll Card: A prepaid card that simplifies payments to contractors, consultants, seasonal employees, and unbanked workers, offering an alternative to traditional bank transfers or cash payments.
- Zoyer: An integrated, data-driven SaaS platform that combines business spend management with automated finance capabilities in invoice-to-pay workflows.
Zaggle Prepaid Ocean Services serves a prestigious clientele that 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 the fiscal year 2023, our company boasts a dedicated team of over 250 employees, a presence in seven offices across India, a strong customer base of more than 1,750 clients, and a remarkable user community exceeding 1.7 million individuals.
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Zaggle Prepaid Ocean Services IPO FAQs
What is the start and end date of Zaggle Prepaid Ocean Services IPO Subscription?
The Zaggle Prepaid Ocean Services IPO started on September 14, 2023, and ended on September 18, 2023.
When does Zaggle Prepaid Ocean Services IPO Subscription open?
The Zaggle Prepaid Ocean Services IPO open on September 14, 2023.
When does Zaggle Prepaid Ocean Services IPO Subscription close?
The Zaggle Prepaid Ocean Services IPO Close on September 18, 2023.
What is the allotment date of Zaggle Prepaid Ocean Services IPO?
The allotment date for Zaggle Prepaid Ocean Services IPO is September 22, 2023.
When is the initial refund date of Zaggle Prepaid Ocean Services IPO?
The initial Refund date for Zaggle Prepaid Ocean Services IPO is September 25, 2023.
When were the shares credited to investors demat accounts for the Zaggle Prepaid Ocean Services IPO?
The shares for the Zaggle Prepaid Ocean Services IPO were credited to investors demat accounts on September 26, 2023.
When will Zaggle Prepaid Ocean Services IPO be listed on the stock market?
Zaggle Prepaid Ocean Services IPO stock market will be listed on September 27, 2023 at 10 am.
What was the price range of the Zaggle Prepaid Ocean Services IPO shares?
The Zaggle Prepaid Ocean Services IPO shares were offered at a price range of ₹156 to ₹164 per share.
What was the lot size for the Zaggle Prepaid Ocean Services IPO shares?
The lot size for the Zaggle Prepaid Ocean Services IPO shares was 90 shares.
What was the total issue size of the Zaggle Prepaid Ocean Services IPO?
The total issue size of the Zaggle Prepaid Ocean Services IPO was ₹563.38 crores.
How were the shares allocated among different types of investors for the Zaggle Prepaid Ocean Services IPO?
75% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 10% were set aside for retail investors.
On which stock exchanges was the Zaggle Prepaid Ocean Services IPO listed?
The Zaggle Prepaid Ocean Services IPO was listed on both the NSE and BSE.
What is the Zaggle Prepaid Ocean Services IPO Subscription Status?
Zaggle Prepaid Ocean Services IPO is subscribed 00 Times.
