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Zaggle Prepaid Ocean IPO

Zaggle Prepaid Ocean Services IPO

  • Status: Closed
  • RHP:
  • ₹ 14,040 / 90 shares

    Minimum Investment

IPO Details

  • Open Date

    14 Sep 2023

  • Close Date

    18 Sep 2023

  • IPO Price Range

    ₹ 156 to ₹ 164

  • IPO Size

    TBA

  • Listing Exchange

    BSE, NSE

  • Listing Date

    27 Sep 2023

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IPO Timeline

Zaggle Prepaid Ocean Services IPO Subscription Status

Last Updated: 18 September 2023 6:07 PM by 5Paisa

Zaggle Prepaid Ocean Services Limited IPO is all set to open from 14th September to 18th September 2023. The company offers Fintech products and services for managing corporate business expenses via automated and innovative workflows. The IPO includes a fresh issue of 23,902,439 equity shares worth ₹392.00 cr and an Offer For Sale (OFS) of 10,449,816 equity shares worth ₹171.38 cr. The total issue size is ₹563.38 cr. The share allotment date is 22nd September, and the IPO will be listed on 27th September on the stock exchanges. The price band is ₹156 to ₹164 per share and the lot size is 90 shares.    

ICICI Securities Limited, Equirus Capital Private Limited, IIFL Securities Limited, and JM Financial Limited are the book-running lead managers for this IPO, while KFin Technologies Limited is the registrar. 

Objectives of Zaggle IPO:

●    To fund expenditure for customer acquisition and retention. 
●    To fund the development of products and technology. 
●    Prepay or repay full/part of the borrowing availed of by the company.
●    Fund general corporate purposes.

Zaggle IPO Video:

 

Established in 2011, Zaggle Prepaid Ocean Services offers Fintech products and services for managing corporate business expenses via automated and innovative workflows. The company provides fintech and SaaS solutions to enterprises across various sectors, including banking, finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile. It has strong relationships with brands including 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’s SaaS platform is used for i) Business spend management (including expense management and vendor management) ii) Rewards and incentives management for employees and channel partners iii) Gift card management for merchants, referred to as customer engagement management system (CEMS).

The company’s product line includes: 

●    Propel: A corporate software-as-a-service (SaaS) platform designed for channel rewards, employee incentives, and recognition programs.
●    Save: A SaaS platform and mobile app offering expense management solutions.
●    CEMS: A customer engagement management system.
●    Zaggle Payroll Card: A prepaid payroll card solution that enables the payment of contractors, consultants, seasonal or temporary employees, etc.
●    Zoyer: An integrated, data-driven SaaS platform for business expenditure management. 

For More Information:
Webstory on Zaggle IPO
Zaggle IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 553.46 371.25 239.96
EBITDA 48.09 59.85 27.62
PAT 22.90 41.92 19.33
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 234.75 92.65 62.08
Share Capital 9.22 0.18 0.18
Total Borrowings 186.00 96.21 107.63
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -15.61 20.08 3.41
Net cash from / (used in) investing activities -24.31 -9.87 -1.00
Net cash flow from / (used in) financing activities 58.81 -12.29 -5.68
Net increase (decrease) in cash and cash equivalents 18.87 -2.07 -3.27


Strengths

1.    The company is a differentiated SaaS-based fintech platform, offering a combination of payment instruments, mobile applications and API integrations.
2.    In-house developed technology and strong network effect.
3.    Business model with diverse sources of revenue and low customer acquisition and retention costs.
4.    Diversified customer relationships across sectors along with preferred banking and merchant partnerships.
5.    Seasoned management team with deep domain expertise supported by a professional workforce.
 

Risks

1.    Any termination of, or failure to maintain, our relationships with our banking partners, including our Preferred Banking Partners, or any other such changes can impact the company’s operations and profitability. 
2.    The company may encounter challenges with the adoption and usage of its products if they are not able to successfully integrate with other software applications.
3.    Operates in a very competitive industry.
4.    Negative cash flow in the past.
5.    Exposed to counterparty credit risk.
6.    The business is subject to seasonality.
 

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FAQs

The minimum lot size of Zaggle IPO is 90 shares and the investment required is ₹14,040.

The price band of Zaggle IPO is ₹156 to ₹164.

Zaggle Prepaid Ocean Services is open from 14th September to 18th September 2023.
 

The total size of Zaggle IPO is ₹563.38 cr. 

The share allotment date of Zaggle IPO is the 22nd of September, 2023.

The Zaggle IPO will be listed on the 27th of September, 2023.

ICICI Securities Limited, Equirus Capital Private Limited, IIFL Securities Limited, and JM Financial Limited are the book-running lead managers for Zaggle IPO.

Zaggle Prepaid Ocean Services plans to utilize the raised capital from IPO to:

1.    To fund expenditure for customer acquisition and retention. 
2.    To fund the development of products and technology. 
3.    Prepay or repay full/part of the borrowing availed of by the company.
4.    Fund general corporate purposes. 
 

To apply for Zaggle IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Zaggle Prepaid Ocean Services Limited IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.