Zaggle Prepaid Ocean Services IPO Review

 
Zaggle Prepaid Ocean Services IPO Review

IPO Open Date: September 14, 2023

IPO Close Date: September 18, 2023

IPO Price: ₹156 to ₹164 per share

Lot Size: 90 Shares

Listing: September 27, 2023



Zaggle Prepaid Ocean Services IPO is scheduled to hit the market on September 14, 2023 and close on September 18, 2023. Zaggle Prepaid Ocean Services plans to raise around ₹563.38 Cr through an IPO with a sale of up to 34,352,255 equity shares of ₹1 each. The retail quota is 10%, QIB is 75%, and HNI is 15%.

Established in 2011, Zaggle Prepaid Ocean Services Limited specializes in providing cutting-edge financial technology (fintech) solutions tailored for efficient corporate expense management. Their fintech and SaaS products cater to a wide spectrum of industries, including banking, technology, healthcare, manufacturing, FMCG, infrastructure, and automobiles.

The comprehensive SaaS platform focuses on three key areas: streamlining business spend management, overseeing rewards and incentives for employees and channel partners, and facilitating gift card management for merchants, referred to as the Customer Engagement Management System (CEMS). Zaggle Prepaid Ocean Services Limited plays a vital role in simplifying and automating corporate expense workflows.

Zaggle Prepaid Ocean Services

Zaggle Prepaid Ocean Services IPO Details

Zaggle Prepaid Ocean Services IPO opens on Sept 14, 2023, and closes on Sep 18, 2023. The Listing date for Zaggle Prepaid Ocean Services IPO is on Sep 27, 2023. The price band for IPO is ₹156 to ₹164 per share and lot size of 90 shares.

IPO DateSept 14, 2023 to Sept 18, 2023
Listing DateSept 27, 2023
Price ₹156 to ₹164 per share
Lot Size90 Shares
Issue Size₹563.38 Cr
Face Value₹1 per share

Zaggle Prepaid Ocean Services IPO Tentative Timetable

Zaggle Prepaid Ocean Services opening date is September 14, 2023 and close date is September 18, 2023. The IPO allotment date is September 22, 2023. The refund initiation of IPO is on September 25, 2023. The credit of shares in demat account is on September 26, 2023. The listing date is on September 27, 2023.

EventDate
IPO OpeningSept 14 2023
IPO ClosingSept 18, 2023
IPO Allotment DateSept 22, 2023
Refund InitiationSept 25, 2023
Shares Credit to DematSept 26, 2023
Lisiting DateSept 27, 2023

Zaggle Prepaid Ocean Services IPO Lot Size

Lot Size of this IPO is 90 shares. A retail-individual investor can apply for up to 13 lots (1170 shares or ₹130,000).

CategoryLotsSharesAmount
Retail(Minimum)190₹14,760
Retail(Maximum)131170₹191,880
S-HNI (Minimum)141260₹206,640
B-HNI (Minimum)686,120 ₹1,003,680

Zaggle Prepaid Ocean Services IPO Promoter Holding

Pre Issue Share Holding57.91%
Post Issue Share Holding

Zaggle Prepaid Ocean Services IPO Review

Zaggle Prepaid Ocean Services Limited, founded in 2011, is a fintech company offering innovative solutions for corporate business expense management. With a diverse product portfolio, it serves clients across various sectors, including banking, technology, healthcare, and manufacturing.

Notable products include Propel, a corporate rewards platform, and Save, a digital expense management solution. The company's extensive clientele, which includes TATA Steel and Inox, reflects its strong market presence.

Financially, Zaggle Prepaid Ocean Services reported impressive figures for the fiscal year 2023, with ₹554.58 Crores in revenue and ₹22.90 Crores in profit after tax. The IPO, scheduled from September 14, 2023, to September 18, 2023, offers investors a chance to be part of the growing fintech sector. However, it's essential to consider the relatively high P/E ratio of 66.67 and a debt/equity ratio of 2.48 when evaluating this investment opportunity.

Zaggle Prepaid Ocean Services IPO Subscription Status (Bidding Details)

InvestorSubscription
Qualified Institutions (QII)0
Non-Institutional Buyers0
  bNII (bids above ₹10L)0
  sNII (bids below ₹10L)0
Retail Investors(RII)0
Employees0
Others0
Total0

Zaggle Prepaid Ocean Services IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Zaggle Prepaid Ocean Services IPO FAQs

What is Zaggle Prepaid Ocean Services IPO?

Zaggle Prepaid Ocean Services is issuing 34,352,255 equity shares with a face value of ₹1 each, totaling up to ₹563.38 Cr. The shares are being offered at a price of ₹156 to ₹164 each, with a minimum order quantity of 90 shares.

Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Zaggle Prepaid Ocean Services IPO will open?

Zaggle Prepaid Ocean Services will open on September 14, 2023 for QIB, NII, and Retail Investors.

When Zaggle Prepaid Ocean Services IPO will end?

Zaggle Prepaid Ocean Services will end on September 18, 2023.

What is Zaggle Prepaid Ocean Services IPO Size?

Zaggle Prepaid Ocean Services IPO size is 563.38 Cr.

What is Zaggle Prepaid Ocean Services IPO Price Band?

Zaggle Prepaid Ocean Services price band is ₹156 to ₹164.

What is the Zaggle Prepaid Ocean Services IPO Allotment Date?

Zaggle Prepaid Ocean Services allotment date is 22 September 2023.

What is the Zaggle Prepaid Ocean Services IPO Listing Date?

Zaggle Prepaid Ocean Services listing date is 27 September 2023. The IPO is to be listed on BSE and NSE.

How to Apply Zaggle Prepaid Ocean Services IPO through Zerodha?

To apply for the IPO “Zaggle Prepaid Ocean Services” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Zaggle Prepaid Ocean Services IPO through Upstox?

To apply for the IPO “Zaggle Prepaid Ocean Services” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Zaggle Prepaid Ocean Services IPO Allotment Status?

For Zaggle Prepaid Ocean Services IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Zaggle Prepaid Ocean Services IPO GMP?

You can check out here: Zaggle Prepaid Ocean Services IPO GMP

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About Manish Sharma

I'm tech-savvy, loves to write about saving, investing and proper financial planning. Also, I am a blogger, share everything with 100% transparency and the best of my knowledge.

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