![Unlocking the Waves of Opportunity: Zaggle Prepaid Ocean Services IPO](https://finogent.com/wp-content/uploads/2023/09/Finogent.com_.jpg)
Unlocking the Waves of Opportunity: Zaggle Prepaid Ocean Services IPO
Are you ready to ride the tide of financial technology innovation? Zaggle Prepaid Ocean Services Limited, a dynamic fintech company, is making waves with its upcoming Initial Public Offering (IPO). Let’s dive deeper into what this IPO has to offer.
A Glimpse of Zaggle Prepaid Ocean Services IPO
Zaggle Prepaid Ocean Services IPO is a book-built issue with a total worth of Rs 563.38 crores. It comprises a fresh issue of 2.39 crore shares, amounting to Rs 392.00 crores, and an offer for sale of 1.04 crore shares, valued at Rs 171.38 crores.
The subscription window for the IPO opened on September 14, 2023, and will close on September 18, 2023. The allotment process is expected to conclude on Friday, September 22, 2023. As for the listing, Zaggle Prepaid Ocean Services IPO will debut on both BSE and NSE, with a tentative listing date set for Wednesday, September 27, 2023.
Pricing and Investment Details
The IPO is priced between ₹156 to ₹164 per share, and the minimum lot size for an application is 90 shares. Retail investors can enter the fray with a minimum investment of ₹14,760. For sNII (non-institutional investors), the minimum lot size investment is 14 lots (1,260 shares), amounting to ₹206,640, while bNII (qualified institutional buyers) need to invest in 68 lots (6,120 shares), totaling ₹1,003,680.
Who’s Behind the IPO?
ICICI Securities Limited, Equirus Capital Private Limited, Iifl Securities Ltd, and Jm Financial Limited are the book running lead managers of the Zaggle Prepaid Ocean Services IPO. Kfin Technologies Limited has been appointed as the registrar for the issue.
Promoters and Anchor Investors
The company is led by its promoters, Mr. Raj P Narayanam and Mr. Avinash Ramesh Godkhindi. Prior to the IPO, Zaggle Prepaid Ocean Services successfully raised Rs 253.52 crores from anchor investors, with the anchor bid date falling on September 13, 2023.
Exploring Zaggle Prepaid Ocean Services
Established in 2011, Zaggle Prepaid Ocean Services Limited specializes in providing innovative fintech products and services designed to streamline corporate business expenses through automated workflows. Their offerings cater to a diverse range of industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobiles.
Zaggle’s product portfolio includes:
- Propel: A corporate SaaS platform for channel rewards, employee rewards, and recognition.
- Save: A SaaS-based platform and mobile application offering expense management solutions for digitized employee reimbursements and tax benefits.
- CEMS: A customer engagement management system enabling merchants to manage customer experiences, including gift card and loyalty benefits.
- Zaggle Payroll Card: A prepaid payroll card facilitating payments to contractors, consultants, and unbanked wage workers.
- Zoyer: An integrated data-driven, SaaS-based business spend management platform.
Their impressive client roster includes renowned companies such as TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, and many others.
As of fiscal 2023, Zaggle Prepaid Ocean Services boasts a team of over 250 employees, a presence in seven offices across India, more than 1,750 satisfied customers, and over 1.7 million end users.
In Conclusion
The Zaggle Prepaid Ocean Services IPO represents an exciting opportunity to invest in a forward-thinking fintech company with a proven track record. With a diverse range of innovative products and a strong client base, Zaggle Prepaid Ocean Services is well-positioned for growth in the ever-evolving world of financial technology. Don’t miss your chance to ride this wave of potential; consider exploring the IPO further in the Zaggle Prepaid Ocean Services IPO RHP for comprehensive information.