Zaggle Prepaid Ocean Services Limited
Mainboard₹14,760 / 90 Shares
Zaggle Prepaid Ocean Services Limited IPO Details
The Zaggle Prepaid Ocean Services Limited IPO price band is set between ₹156-164 per equity share, with a face value of ₹1 per share. The issue is managed by Kfin Technologies Limited, and the equity shares are proposed to be listed on the Mainboard.
The IPO date for subscription opens on 14 Sep, 2023 and closes on 18 Sep, 2023. Investors can check the allotment status on 21 Sep, 2023, while the listing date is tentatively scheduled for 22 Sep, 2023.
The total issue size is Total ₹563.38 Cr :#Fresh Issue : 23,902,439 shares, aggregating up to ₹392.00 Cr. Stay tuned for the latest Zaggle Prepaid Ocean Services Limited IPO review and GMP updates.
Zaggle Prepaid Ocean Services Limited IPO Review, Rating & Analysis
Zaggle Prepaid Ocean Services Limited IPO Review
NO REVIEWZaggle Prepaid Ocean Services Limited IPO Rating
Zaggle Prepaid Ocean Services Limited IPO Highlights
IPO Date
Sep 14, 2023 - Sep 18, 2023
Listing Date
22 Sep, 2023
Face Value
₹1 Per Equity Share
Price Band
₹156-164 per equity share
Lot Size
90 Shares
Fresh Issue
23,902,439 Shares
Offer for Sale
10,449,816 shares of ₹1
Listing At
BSE, NSE
Zaggle Prepaid Ocean Services Limited IPO Lot Size
The minimum market lot for Zaggle Prepaid Ocean Services Limited IPO is 90 shares with an application amount of ₹14,760. Retail investors can apply for up to 13 lots. The table below details the minimum and maximum investment limits for Retail and HNI investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,760 |
| Retail (Max) | 13 | 1170 | ₹1,91,880 |
| S-HNI (Min) | 14 | 1260 | ₹2,06,640 |
| S-HNI (Max) | 67 | 6030 | ₹9,88,920 |
| B-HNI (Min) | 68 | 6120 | ₹10,03,680 |
Zaggle Prepaid Ocean Services Limited IPO Timeline
Issue Price
₹156-164 per equity shareFace Value
₹1 Per Equity ShareListing at Group
BSE, NSERegistrar
Kfin Technologies LimitedLead Manager
ICICI Securities LimitedEquirus Capital Private LimitedIifl Securities LtdJm Financial LimitedIssue Size
Total ₹563.38 Cr :#Fresh Issue : 23,902,439 shares(aggregating up to ₹392.00 Cr) +
#OFS : 10,449,816 shares of ₹1(aggregating up to ₹171.38 Cr)
Zaggle Prepaid Ocean Services Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 23 | 234.76 | 554.58 | 22.90 | - | - | - |
All values are in ₹ Cr.
Promoters & Share Holding
Promoter(s) Name
- Mr. Raj P Narayanam
- Mr. Avinash Ramesh Godkhindi
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| N/A% | N/A% |
About Company
Zaggle Prepaid Ocean Services Limited provides financial technology (fintech) products and services to manage corporate business expenses through automated and innovative workflows.
The company offers fintech and SaaS products and services to corporates working in the fields of banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile industries. The 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) gift card management for merchants, which we refer to as customer engagement management system (CEMS).
Zaggle's product portfolio includes:
1. Propel: a corporate SaaS platform for channel rewards and incentives, employee rewards and recognition
2. Save: a SaaS-based platform and a mobile application that offers expense management solutions for business spend management facilitating digitized employee reimbursements and tax benefits.
3. CEMS: a customer engagement management system that enables merchants to comprehensively manage their customer experiences including rewarding merchants through gift card and loyalty benefits.
4. Zaggle Payroll Card: a prepaid payroll card that allows customers to pay contractors, consultants, seasonal and temporary employees, and unbanked wage workers as an alternative to direct deposits to bank accounts or cash payments.
5. Zoyer: an integrated data-driven, SaaS-based business spend management platform with embedded automated finance capabilities in core invoice-to-pay workflows.
Zaggle Prepaid Ocean Services' clientele includes companies like TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP Sanjiv Goenka Group), Hiranandani Group, Cotiviti, Greenply Industries, and so on.
As of fiscal 2023, the company has over 250 employees, 7 offices across India, more than 1750 customers, and over 1.7 million end users.
Zaggle Prepaid Ocean Services Limited IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 10,305,677 | 5,152,838 3,435,225 1,717,613 | 3,435,225 | 18,893,740 |
Day 1 -14-09-23 05:00 PM | 0.00 x | 0.11 0.08 x 0.18 x | 0.88 x | 0.19 x |
Day 2 -15-09-23 05:00 PM | 0.00 x | 0.29 0.20 x 0.45 x | 1.91 x | 0.43 x |
Day 3 -18-09-23 05:00 PM | 16.73 x | 8.85 10.00 x 6.53 x | 5.94 x | 12.57 x |
Frequently Asked Questions about Zaggle Prepaid Ocean Services Limited IPO
When will Zaggle Prepaid Ocean Services Limited IPO open for subscription?
The Zaggle Prepaid Ocean Services Limited IPO opens on 14 Sep, 2023 and closes on 18 Sep, 2023.
What is the investors portion for Zaggle Prepaid Ocean Services Limited IPO?
The investors' portion for QIB is 16.73 x, NII is 10.00 x, and Retail is 5.94 x.
How to apply for Zaggle Prepaid Ocean Services Limited IPO?
You can apply for Zaggle Prepaid Ocean Services Limited IPO via ASBA online through your bank account. You can also apply via UPI through stock brokers like Zerodha, Upstox, or Paytm Money.
What is the issue size of Zaggle Prepaid Ocean Services Limited IPO?
The issue size of Zaggle Prepaid Ocean Services Limited IPO is approx ₹Total ₹563.38 Cr :#Fresh Issue : 23,902,439 shares(aggregating up to ₹392.00 Cr) +#OFS : 10,449,816 shares of ₹1(aggregating up to ₹171.38 Cr) crores.
What is the price band of Zaggle Prepaid Ocean Services Limited IPO?
The price band for Zaggle Prepaid Ocean Services Limited IPO is ₹156 to ₹164 per equity share.
What is the lot size of Zaggle Prepaid Ocean Services Limited IPO?
The minimum bid (lot size) for Zaggle Prepaid Ocean Services Limited IPO is N/A shares with an investment of approx ₹14,760 .
What is the allotment date of Zaggle Prepaid Ocean Services Limited IPO?
The allotment date for Zaggle Prepaid Ocean Services Limited IPO is 21 Sep, 2023.
What is the listing date of Zaggle Prepaid Ocean Services Limited IPO?
The listing date for Zaggle Prepaid Ocean Services Limited IPO is expected to be 22 Sep, 2023.
What is the GMP of Zaggle Prepaid Ocean Services Limited IPO?
The latest Grey Market Premium (GMP) for Zaggle Prepaid Ocean Services Limited IPO is being updated regularly on IPOROCK.
Parth D.
Founder & Lead Analyst
Parth D. is a software engineer and financial analyst who brings a quantitative edge to IPO tracking. With deep expertise in algorithmic trading and financial tool development, he builds the technology that powers IPORock's real-time data engines. He has been tracking the Indian market since 2018.