Last updated on September 25, 2023
Zaggle IPO Description – Incorporated in 2011, Zaggle Prepaid Ocean Services provides financial technology (fintech) products and services to manage corporate business expenses through automated workflows. The company is sector-agnostic, and its network of corporate customers covers the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobile industries, among others, where it has relationships with brands such as TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP – Sanjiv Goenka Group), Hiranandani group, Cotiviti and Greenply Industries.
Zaggle Prepaid Ocean Services is placed at the intersection of the SaaS and fintech ecosystems, and 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) a gift card management for merchants, which it refers to as customer engagement management system (CEMS).
As of 31 March 2023, the company has 1,832 corporate accounts and 579 SMB accounts. As of 31 March 2023, 2022, and 2021, the average user base per business was 943, 983, and 828 Users, respectively. As of 31 March 2023, it has issued 10.83 million active cards to 2,411 customers across India.
Promoters of Zaggle Prepaid Ocean Services– Raj P Narayanam and Avinash Ramesh Godkhindi
Zaggle Prepaid Ocean IPO Details
| Zaggle IPO Dates | 14 – 18 Sep 2023 |
| Zaggle IPO Price | 156 – 164 per share |
| Fresh issue | INR 392 crore |
| Offer For Sale | 10,449,816 shares INR 163.02 – 171.38 crore |
| Total IPO size | INR 555.02 – 563.38 crore |
| Minimum bid (lot size) | 90 shares INR 14,760 |
| Face Value | INR 1 per share |
| Retail Allocation | 10% |
| Listing On | BSE, NSE |
Zaggle Prepaid Ocean Services Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 239.97 | 371.26 | 553.46 |
| Expenses | 223.0 | 320.49 | 522.94 |
| Net income | 19.33 | 41.92 | 22.90 |
| Margin (%) | 8.06 | 11.29 | 4.14 |
Zaggle IPO News
- Zaggle Prepaid Ocean Services RHP
- Zaggle Prepaid Ocean Services DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Subscription Status
Zaggle Prepaid Ocean Services Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.11 | 4.57 | 2.46 |
| PE ratio | – | – | 63.41 – 66.67 |
| RONW (%) | (42.44) | (1,178.22) | 46.98 |
| NAV | – | (0.39) | 5.29 |
| ROE (%) | (42.44) | (1,178.22) | 46.98 |
| EBITDA (%) | 11.51 | 16.12 | 8.69 |
| Debt/Equity | (1.52) | (18.12) | 2.42 |
Zaggle IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 21 September 2023 | 10 | 400 | 12,000 |
| 20 September 2023 | 15 | 400 | 14,000 |
| 19 September 2023 | 15 | 400 | 14,000 |
| 18 September 2023 | 20 | 500 | 18,000 |
| 16 September 2023 | 30 | 750 | 26,000 |
| 15 September 2023 | 25 | 950 | 22,000 |
| 14 September 2023 | 20 | 950 | 18,000 |
| 13 September 2023 | 10 | – | 11,000 |
| 12 September 2023 | 10 | – | 11,000 |
| 11 September 2023 | 10 | – | 11,000 |
Zaggle Prepaid Ocean IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 1,04,32,256 | 53,36,703 | 35,57,802 | 1,93,26,761 |
| 18 Sep 2023 | 16.73 | 8.83 | 5.87 | 12.55 |
| 15 Sep 2023 | 0.00 | 0.29 | 1.91 | 0.43 |
| 14 Sep 2023 | 0.00 | 0.11 | 0.93 | 0.20 |
Zaggle Prepaid Ocean IPO Allotment Status
Zaggle Prepaid Ocean IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.
Zaggle Prepaid Ocean IPO Dates & Listing Performance
| Zaggle Prepaid Ocean IPO Opening Date | 14 September 2023 |
| Zaggle Prepaid Ocean IPO Closing Date | 18 September 2023 |
| Finalization of Basis of Allotment | 21 September 2023 |
| Initiation of refunds | 21 September 2023 |
| Transfer of shares to demat accounts | 21 September 2023 |
| Zaggle Prepaid Ocean IPO Listing Date | 22 September 2023 |
| Opening Price on NSE | INR 164 per share (No Change) |
| Closing Price on NSE | INR 158.40 per share (down 3.4%) |
Zaggle IPO Reviews – Subscribe or Avoid?
Angel One –
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Asit C Mehta –
BP Wealth – Avoid
Canara Bank Securities – Avoid
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Elite Wealth – Avoid
GCL Broking –
Geojit –
GEPL Capital – Avoid
Hem Securities – Subscribe
ICICIdirect –
Jainam Broking –
KR Choksey –
LKP Research –
Marwadi Financial –
Motilal Oswal –
Nirmal Bang –
Reliance Securities –
Religare Broking –
Samco Securities – Not Rated
SMC Global – 1.5/5
Swastika Investmart –
Systematix PCG Research – Not Rated
Ventura Securities –Not Rated
Zaggle Prepaid Ocean Services Offer Lead Manager
IIFL SECURITIES LIMITED
10th Floor, IIFL Centre Kamala City,
Senapati Bapat Marg Lower Parel (West) Mumbai 400 013
Phone: +91 22 4646 4728
Email:Â [email protected]
Website:Â www.iiflcap.com
Zaggle Prepaid Ocean Services Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium, Tower-B Plot 31 and 32, Financial District Nanakramguda,
Serilingampally Hyderabad, Rangareddi 500 032 Telangana
Phone:Â +91 40 6716 2222
Email:Â [email protected]
Website:Â www.kfintech.com
Zaggle Prepaid Ocean Services Contact Details
ZAGGLE PREPAID OCEAN SERVICES LIMITED
Unit no. 602 and 603, 6th Floor,
Hyde Park, Opposite Ansa Industrial Estate,
Saki Vihar Road, Andheri East, Mumbai, 400 072, Maharashtra
Phone:Â +91 22 4879 4879
Email:Â [email protected]
Website: www.zaggle.in
Zaggle IPO FAQs
How many shares in Zaggle Prepaid Ocean IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply in Zaggle Prepaid Ocean Public Offer?
The best way to apply in Zaggle Prepaid Ocean public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Zaggle IPO GMP today?
Zaggle IPO GMP today is INR 10 per share.
What is Zaggle Prepaid Ocean kostak rate today?
Zaggle Prepaid Ocean kostak rate today is INR 400 per application.
What is Zaggle Prepaid Ocean Subject to Sauda rate today?
Zaggle Prepaid Ocean Subject to Sauda rate today is INR 12,000 per application.
