- Zaggle IPO GMP today-Click here
- Here are the details for the Zaggle Prepaid Ocean Services IPO:
- IPO Market Lot for Zaggle Prepaid Ocean Services
- Here are the important dates for the Zaggle Prepaid Ocean Services IPO
- Zaggle Prepaid Ocean Services IPO Reservation
- Financial performance of Zaggle Prepaid Ocean Services IPO:
- Advantge:
- Disadvantages:
- Objects of the Issue:
- Company Promoters
- The registrar for the Zaggle Prepaid Ocean Services IPO is Kfin Technologies Limited.
- The lead managers
- The address of Zaggle Prepaid Ocean Services Limited is as follows:
The IPO details for Zaggle Prepaid Ocean Services have been announced. The IPO is scheduled to be available in the market from September 14th and will conclude on September 18th. Zaggle Prepaid Ocean Services aims to generate approximately ₹563 crores through this IPO, which includes ₹392 crores from a fresh issue of shares and the sale of up to 10,449,816 equity shares at ₹1 each. The allocation for different investor categories is as follows: 10% for retail investors, 75% for Qualified Institutional Buyers (QIBs), and 15% for High Net Worth Individuals (HNIs).
Zaggle IPO GMP today-Click here
Established in 2011, Zaggle has risen to prominence in the field of spend management. It offers a unique value proposition and caters to a diverse range of clients. In the Indian market, Zaggle has positioned itself as a specialist by providing a comprehensive solution for spend management. This solution seamlessly integrates prepaid cards with employee management through Software as a Service (SaaS).
Zaggle primarily operates in the Business-to-Business-to-Customer (B2B2C) sector and stands out as one of the few companies offering a wide range of fintech products and services. Their offerings include the largest number of issued prepaid cards in India, a diverse portfolio of SaaS solutions (including tax and payroll software), and an extensive network of touchpoints. They occupy a strategic position at the intersection of the SaaS and fintech ecosystems. Their SaaS platform is customized to address three key areas: (i) business spend management, encompassing expense management, (ii) rewards and incentives management for employees and channel partners, and (iii) a customer engagement management system. Their client base spans across large enterprises (corporates), small and medium-sized businesses (SMBs), and startups throughout India.
Zaggle complements their unified SaaS-based platform with a comprehensive suite of products designed to digitize business and employee spend management, as well as rewards. This suite includes offerings like the Zaggle Payroll Card, Kuber Gift Card (a versatile gift card that can be used both online and offline wherever VISA/RuPay cards are accepted in India), and Zinger Multi-wallet Card (a reloadable card with multiple wallets usable online and offline wherever VISA/RuPay cards are accepted in India).
Their ecosystem facilitates connections between parties that provide complementary services, creating a network effect that benefits businesses, employees, channel partners, customers, merchants, and banks.
Zaggle operates within a segment where they engage with both their customers (businesses) and end users (employees). They stand out as one of the few players in this space with a diversified range of financial technology (fintech) products and services. They have established themselves as a leader in India, with one of the largest numbers of issued prepaid cards, thanks to partnerships with select banking partners. Additionally, their portfolio includes a variety of Software as a Service (SaaS) offerings, including tax and payroll software, and they have an extensive network of touchpoints.
Their services are not limited to any specific sector, and their corporate customer network spans various industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and the automobile sector. They have established relationships with well-known 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 occupies a strategic position where the worlds of SaaS and fintech converge. Their SaaS platform is designed to serve multiple purposes, including business spend management (covering expense management and vendor management), rewards and incentives management for both employees and channel partners, and gift card management for merchants, which they refer to as a customer engagement management system (CEMS).
Here are the details for the Zaggle Prepaid Ocean Services IPO:
- IPO Opening Date: September 14, 2023
- IPO Closing Date: September 18, 2023
- IPO Size: Approximately ₹563 Crores
- Fresh Issue: Approximately ₹392 Crores
- Offer for Sale: Approximately 10,449,816 Equity Shares
- Face Value: ₹1 Per Equity Share
- IPO Price Band: ₹156 to ₹164 Per Share
- IPO Listing on: BSE & NSE
- Retail Quota: 10%
- QIB Quota: 75%
- NII Quota: 15%
- Discount: N/A
- DRHP Draft Prospectus: [Link]
- RHP Draft Prospectus: [Link]
IPO Market Lot for Zaggle Prepaid Ocean Services
| Application Type | Lot Size | Number of Shares | Application Amount |
|---|---|---|---|
| Retail Minimum | 1 | 90 | ₹14,760 |
| Retail Maximum | 13 | 1170 | ₹191,880 |
| S-HNI Minimum | 14 | 1260 | ₹206,640 |
| B-HNI Minimum | 68 | 6120 | ₹1,003,680 |
Here are the important dates for the Zaggle Prepaid Ocean Services IPO
| Event | Date |
|---|---|
| Anchor Investors Allotment | September 13, 2023 |
| IPO Open Date | September 14, 2023 |
| IPO Close Date | September 18, 2023 |
| Basis of Allotment | September 22, 2023 |
| Refunds | September 25, 2023 |
| Credit to Demat Account | September 26, 2023 |
| IPO Listing Date | September 27, 2023 |
Zaggle Prepaid Ocean Services IPO Reservation
| Category | Share Reservation Percentage |
|---|---|
| QIB (Qualified Institutional Buyers) | Not less than 75.00% |
| NII (Non-Institutional Investors, including HNI) | Not more than 15.00% |
| Retail Investors | Not more than 10.00% |
Financial performance of Zaggle Prepaid Ocean Services IPO:
| Period Ended | Total Assets (₹ Crores) | Total Revenue (₹ Crores) | Profit After Tax (PAT) (₹ Crores) | Earnings Per Share (EPS) (₹) |
|---|---|---|---|---|
| 31-Mar-20 | 49.01 | 68.33 | 3.71 | 0.41 |
| 31-Mar-21 | 62.08 | 239.96 | 19.33 | 2.11 |
| 31-Mar-22 | 92.65 | 371.25 | 41.92 | 4.57 |
| 31-Mar-23 | 234.76 | 554.58 | 22.90 | 2.46 |
key performance indicators
| key performance indicators | Value | Description |
|---|---|---|
| P/E (x) | 66.67 | Price-to-Earnings Ratio (P/E) is 66.67. |
| ROE | 46.98% | Return on Equity (ROE) stands at 46.98%. |
| Debt/Equity | 2.48 | The Debt-to-Equity ratio is 2.48. |
| EPS (Rs) | 2.46 | Earnings per Share (EPS) is Rs 2.46. |
| RoNW | 46.98% | Return on Net Worth (RoNW) is 46.98%. |
Advantge:
- The company has consistently maintained a healthy Return on Capital Employed (ROCE) of 335.45% over the past 3 years.
- The company demonstrates an efficient Cash Conversion Cycle with a cycle of 0 days.
Disadvantages:
- The company has exhibited poor profit growth, recording a 0% increase over the past 3 years.
- The company has also shown weak revenue growth, with no significant increase over the past 3 years.
- The Return on Equity (ROE) for the company has been poor, standing at 0% over the past 3 years.
- The company carries contingent liabilities totaling ₹27.20 Crores.
- Additionally, the company has a low Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin, which has remained at 0% over the past 5 years.
Objects of the Issue:
- Investment in customer acquisition and retention efforts.
- Investment in the development of technology and new products.
- Repayment or pre-payment of certain company borrowings, either in full or in part.
- General corporate purposes.
Company Promoters
- Mr. Raj P Narayanam
- Mr. Avinash Ramesh Godkhindi
The registrar for the Zaggle Prepaid Ocean Services IPO is Kfin Technologies Limited.
- Phone: 04067162222, 04079611000
- Email: zaggle.ipo@kfintech.com
- Website: Kfin Technologies Limited IPO Status
The lead managers
- ICICI Securities Limited
- Equirus Capital Private Limited
- IIFL Securities Ltd
- JM Financial Limited
The address of Zaggle Prepaid Ocean Services Limited is as follows:
Zaggle Prepaid Ocean Services Limited 301, Third 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: Zaggle Prepaid Ocean Services Limited
Naren is a finance graduate who is passionate about cryptocurrency and blockchain technology. He demonstrates his expertise in these subjects by writing for cryptoetf.in. Thanks to his finance background, he is able to write effectively about cryptocurrency.