Zaggle Prepaid Ocean IPO GMP, Price, Date, Allotment

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Last updated on September 25, 2023

Zaggle Prepaid Ocean IPO GMP

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.

Zaggle Prepaid Ocean Services

Promoters of Zaggle Prepaid Ocean Services– Raj P Narayanam and Avinash Ramesh Godkhindi


Zaggle Prepaid Ocean IPO Details

Zaggle IPO Dates14 – 18 Sep 2023
Zaggle IPO Price156 – 164 per share
Fresh issueINR 392 crore
Offer For Sale10,449,816 shares
INR 163.02 – 171.38 crore
Total IPO sizeINR 555.02 – 563.38 crore
Minimum bid (lot size)90 shares
INR 14,760
Face Value INR 1 per share
Retail Allocation10%
Listing OnBSE, NSE

Zaggle Prepaid Ocean Services Financial Performance

 FY 2021FY 2022FY 2023
Revenue239.97371.26553.46
Expenses223.0320.49522.94
Net income19.3341.9222.90
Margin (%)8.0611.294.14
Figures in INR crore unless specified otherwise

Zaggle IPO News


Zaggle Prepaid Ocean Services Valuations & Margins

FY 2021FY 2022FY 2023
EPS2.114.572.46
PE ratio63.41 – 66.67
RONW (%)(42.44)(1,178.22)46.98
NAV(0.39)5.29
ROE (%)(42.44)(1,178.22)46.98
EBITDA (%)11.5116.128.69
Debt/Equity(1.52)(18.12)2.42
*Compiled by IPO Central from Prospectus

Zaggle IPO GMP Today (Daily Trend)

DateDay-wise IPO GMPKostakSubject to Sauda
21 September 20231040012,000
20 September 20231540014,000
19 September 20231540014,000
18 September 20232050018,000
16 September 20233075026,000
15 September 20232595022,000
14 September 20232095018,000
13 September 20231011,000
12 September 20231011,000
11 September 20231011,000

Zaggle Prepaid Ocean IPO Subscription – Live Updates

CategoryQIBNIIRetailTotal
Shares Offered1,04,32,25653,36,70335,57,8021,93,26,761
18 Sep 202316.738.835.8712.55
15 Sep 20230.000.291.910.43
14 Sep 20230.000.110.930.20

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 Date14 September 2023
Zaggle Prepaid Ocean IPO Closing Date18 September 2023
Finalization of Basis of Allotment21 September 2023
Initiation of refunds21 September 2023
Transfer of shares to demat accounts21 September 2023
Zaggle Prepaid Ocean IPO Listing Date22 September 2023
Opening Price on NSEINR 164 per share (No Change)
Closing Price on NSEINR 158.40 per share (down 3.4%)

Zaggle IPO Reviews – Subscribe or Avoid?

Angel One –
Anand Rathi –
Antique Stock Broking –
Arihant Capital –
Ashika Research –
Asit C Mehta –
BP Wealth – Avoid
Canara Bank Securities – Avoid
Choice Broking – Subscribe with Caution
Dalal & Broacha –
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[email protected]
Website: 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: +91 40 6716 2222
Email: [email protected]
Website: 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: +91 22 4879 4879
Email: [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.

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