Established in 2011, Zaggle Prepaid Ocean Services Limited is a leading provider of financial technology (fintech) solutions geared towards streamlining corporate business expenses through innovative and automated workflows.
Zaggle offers a wide range of fintech and Software as a Service (SaaS) products and services tailored to corporate clients spanning various industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and the automobile sector. Their SaaS platform is strategically designed to address key aspects:
- Business Spend Management: This encompasses expense management and vendor management, streamlining corporate expenditures.
- Rewards and Incentives Management: Zaggle provides solutions for managing rewards and recognition programs for both employees and channel partners.
- Customer Engagement Management System (CEMS): This platform empowers merchants to comprehensively oversee customer experiences, incorporating features like gift card and loyalty benefits.
Zaggle’s diverse product portfolio includes: #
- Propel: A corporate SaaS platform catering to channel rewards and incentives, as well as employee rewards and recognition.
- Save: A SaaS-based platform and mobile application facilitating expense management solutions for business spend management. It simplifies digitized employee reimbursements and offers tax benefits.
- CEMS: The Customer Engagement Management System designed to enable merchants to effectively manage customer experiences, including the administration of gift cards and loyalty benefits.
- Zaggle Payroll Card: This prepaid payroll card offers an alternative to direct deposits and cash payments, allowing customers to conveniently pay contractors, consultants, seasonal and temporary employees, and unbanked wage workers.
- Zoyer: An integrated, data-driven, SaaS-based business spend management platform that incorporates automated finance capabilities into core invoice-to-pay workflows.
Zaggle Prepaid Ocean Services caters to an impressive clientele that includes notable companies such as TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP Sanjiv Goenka Group), Hiranandani Group, Cotiviti, Greenply Industries, and many others.
As of fiscal year 2023, the company boasts a workforce of over 250 employees, maintains seven offices across India, serves more than 1,750 customers, and reaches over 1.7 million end users with its innovative fintech solutions.
IPO Details #
Zaggle Prepaid Ocean Services IPO is a Book Built Issue. The IPO total issue size is Rs [.]. The Zaggle Prepaid Ocean Services IPO price is ₹156 to ₹164 per share. The IPO will list on BSE, NSE.
| IPO Date | September 14, 2023 to September 18, 2023 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price | ₹156 to ₹164 per share |
| Lot Size | 90 Shares |
| Total Issue Size | |
| Fresh Issue | [.] shares (aggregating up to ₹392.00 Cr) |
| Offer for Sale | 10,449,816 shares of ₹1 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 98,194,319 |
IPO Reservation #
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
IPO Timetable (Tentative) #
Zaggle Prepaid Ocean Services IPO opens on September 14, 2023, and closes on September 18, 2023.
| IPO Open Date | Thursday, September 14, 2023 |
| IPO Close Date | Monday, September 18, 2023 |
| Basis of Allotment | Friday, September 22, 2023 |
| Initiation of Refunds | Monday, September 25, 2023 |
| Credit of Shares to Demat | Tuesday, September 26, 2023 |
| Listing Date | Wednesday, September 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 18, 2023 |
IPO Lot Size #
The minimum lot size of this IPO is 90 shares required is ₹14,760.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,760 |
| Retail (Max) | 13 | 1170 | ₹191,880 |
| S-HNI (Min) | 14 | 1,260 | ₹206,640 |
| S-HNI (Max) | 67 | 6,030 | ₹988,920 |
| B-HNI (Min) | 68 | 6,120 | ₹1,003,680 |
| Lot Size Calculator | |||
IPO Promoter Holding #
Mr. Raj P Narayanam and Mr. Avinash Ramesh Godkhindi are the promoters of the company.
| Pre Issue Share Holding | 57.91% |
| Post Issue Share Holding |
Company Financials #
| Period Ended | 31 Mar 2023 |
| Assets | 234.76 |
| Revenue | 554.58 |
| Profit After Tax | 22.90 |
| Net Worth | 48.75 |
| Reserves and Surplus | 39.36 |
| Total Borrowing | 121.07 |
Key Performance Indicator #
| KPI | Values |
|---|---|
| P/E (x) | 66.67 |
| ROE | 46.98% |
| Debt/Equity | 2.48 |
| EPS (Rs) | 2.46 |
| RoNW | 46.98% |
Objects of the Issue #
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Expenditure towards Customer acquisition and retention.
- Expenditure towards the development of technology and products.
- Repayment/ pre-payment of certain borrowings, in full or part, availed by the company.
- General corporate purposes.
IPO Prospectus #
Company Contact Information #
301, III Floor, CSR Estate, Plot No.8,
Sector 1, HUDA Techno Enclave, Madhapur Main Road,
Hyderabad, Rangareddi – 500 081
Phone: +91 40 2311 9049
Email: haripriya.singh@zaggle.in
Website: https://www.zaggle.in/
Zaggle Prepaid Ocean IPO Registrar #
Phone: 04067162222, 04079611000
Email: zaggle.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
IPO Lead Manager(s) #
- ICICI Securities Limited (Past IPO Performance)
- Equirus Capital Private Limited (Past IPO Performance)
- IIFL Securities Ltd (Past IPO Performance)
- JM Financial Limited (Past IPO Performance)
FAQs #
What is Zaggle Prepaid Ocean Services’ IPO lot size? #
The minimum lot size for Zaggle Prepaid Ocean Services IPO is 90 shares, costing ₹14,760.
Who are the promoters of Zaggle Prepaid Ocean Services Limited? #
The company’s promoters are Mr. Raj P Narayanam and Mr. Avinash Ramesh Godkhindi.
What is the IPO price range for Zaggle Prepaid Ocean Services? #
The IPO price for Zaggle Prepaid Ocean Services ranges from ₹156 to ₹164 per share.
When does the IPO open and close? #
The IPO opens on September 14, 2023, and closes on September 18, 2023.
What are the company’s key financial indicators (as of March 2023)? #
Zaggle Prepaid Ocean Services had an ROE of 46.98%, a P/E of 66.67x, and an EPS of ₹2.46.
What are the primary objectives for utilizing the IPO proceeds? #
The funds raised will be used for customer acquisition, technology development, loan repayment, and general corporate purposes.
Please note that the information provided in the FAQs is based on the data available. For the latest updates and detailed information, please refer to the official sources and the prospectus.
