Zaggle Prepaid IPO Insights :
On September 14, 2023 initial public offer (IPO) opens up for subscription for a target to raise Rupee 564 Crore. IPO offer will close on 18th September, On Monday.
Company has fixed price band of Rs.156 – Rs.164 per equity share. Subscriber must bid in lot of 90 shares and in multiple of lot volume 90 shares.
Zaggle Prepaid Ocean Services Ltd is registered with RoC-Hyderabad. This Fintech-SaaS company provides perfect technological solutions to Small and medium enterprises and prominently work with Start ups.
Zaggle IPO contains fresh Issue of Rs.392 crore and Rs.172 Crore worth share of promotors holding. Total Zaggle IPO issue size is 564 Crore rupee.
Zaggle IPO fund will be utilized for repaying existing outside borrowing/loans/advances either in full or part. Balance proceeds will be utilized for customer acquisition and relationship building, technological product research and general corporate expenses.
Lead Manager/Registrar for IPO Offer:-
- JM Financial Limited
- ICICI Securities Limited
- Equirus Capital Private Limited
- IIFL Securities Limited
- Kfin Technologies Limited
You can take the help of this agency to guide yourself.
Grey Market Premium is Rupee 32-35 for Zaggle IPO. (GMP)
Tips and takeaways:
- Subscribe with proper research and study about companies vision and mission.
- Company does not have any Listed industries peers in India or abroad as per Prospects.
- From P/E ration it’s seems to be quite aggressively Priced.
- 23 Anchor Investor already promised Rs.252 crore at Rs.164/ Equity Share.
- Subscription Reserved Ratio for Qualified Institutional Investor is 75%
- Subscription Reserved Ratio for Non Institutional Investor is 15%
- Subscription Reserved Ratio for Retail Investor is 10%
Zaggle IPO is game changer for Fintech-SaaS Industries.
