IPO

Zaggle Prepaid Ocean Services Limited IPO

Mainboard

Cables - Electricals

Listed On: Sep 22, 2023 at ₹ 164.0(NSE)

₹ 14760 /90 Shares

Check Allotment

14 Sep, 2023

Open Date

18 Sep, 2023

Close Date

21 Sep, 2023

Allotment Date

22 Sep, 2023

Listing Date
Price Summary

Last Closing

356.00 (117.07%)

52 Week High

577.30

52 Week Low

298.65

Last Update

19-Dec-2025 3:30 PM
Zaggle Prepaid Ocean Services Limited IPO Issue Details
  • Issue Price ₹156-164 per equity share
  • Face Value ₹1 Per Equity Share
  • Issue Price 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)
  • Listing at BSE, NSE
  • List Price 164.0(NSE)
  • Listing Date 2023-09-22
  • Lead Manager ICICI Securities Limited
    Equirus Capital Private Limited
    Iifl Securities Ltd
    Jm Financial Limited
  • Registrar Kfin Technologies Limited
Zaggle Prepaid Ocean Services Limited IPO Details
  • Retail Portion 10% (Number of Retail Applications: 38,169 Approx),
    (Number of S-HNI Applications : 1,363 Approx),
    (Number of B-HNI Applications : 2,726 Approx)
Zaggle Prepaid Ocean Services Limited IPO Documents
DRHP
RHP
ANCHOR
Zaggle Prepaid Ocean Services Limited IPO Details


The IPO of Zaggle Prepaid Ocean Services Limited is priced at ₹156-164 per equity share, which has a face value of ₹1 Per Equity Share each, IPO bidding starts from Sep 14, 2023 and ends on Sep 18, 2023. The allotment for Zaggle Prepaid Ocean Services Limited IPO will be finalized on Sep 21, 2023. Zaggle Prepaid Ocean Services Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 22, 2023. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

The book-running lead manager for the IPO is/are ICICI Securities Limited, Equirus Capital Private Limited, Iifl Securities Ltd, Jm Financial Limited.


The Zaggle Prepaid Ocean Services Limited IPO sets its price band at 156-164 for each share. A single application for Zaggle Prepaid Ocean Services Limited IPO must contain at least 90 shares.

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Zaggle Prepaid Ocean Services Limited IPO Subscription Analysis And Details
Retail
5.94x
QIB
16.73x
NII
8.85x
bNII
10.00x
sNII
6.53x
Total
12.57x
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
Total No of Applications
2,25,490
Zaggle Prepaid Ocean Services Limited Valuations
Earnings Per Share (EPS) ₹2.46/-
P/E Ratio 66.67
RoNW 46.98%
Net Asset Value (NAV) - As on 30.06.23 ₹5.29
Zaggle Prepaid Ocean Services Limited Company Financials
In Crs.
In Cr.
31-Mar-23
Assets 234.76
Revenue 554.58
Profit After Tax 22.90
About Zaggle Prepaid Ocean Services Limited 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.

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Zaggle Prepaid Ocean Services Limited - Promoter(s)

Mr. Raj P Narayanam

Mr. Avinash Ramesh Godkhindi

Pre Issue Share Holding : N/A%

Post Issue Share Holding : N/A%

Zaggle Prepaid Ocean Services Limited IPO - Issue Objectives
1

Expenditure towards Customer acquisition and retention.

2

Expenditure towards the development of technology and products.

3

Repayment/ pre-payment of certain borrowings, in full or part, availed by the company.

4

General corporate purposes.

Zaggle Prepaid Ocean Services Limited IPO - Anchor Investors

Zaggle Prepaid Ocean Services mobilises Rs 253 crore from anchor investors ahead of IPO.

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.