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Zaggle Prepaid Ocean Services IPO – An Overview for Potential Investors
The Zaggle Prepaid Ocean Services IPO has officially opened for subscription Don’t Miss Out on Zaggle IPO, with the subscription period running from Thursday, September 14, to Monday, September 18. Investors are keen to explore this opportunity, and we’ll delve into the key details to help you make an informed decision on whether to subscribe or not please Don’t Miss Out on Zaggle IPO.
The Zaggle IPO has set a price band for its shares, ranging from ₹156 to ₹164 per equity share, each having a face value of ₹1. It’s worth noting that the IPO has already received substantial attention, securing ₹253.52 crore from 23 anchor investors at the upper limit of ₹164 per equity share. Don’t Miss Out on Zaggle IPO
In terms of allocation, the IPO has reserved specific percentages of shares for different categories of investors. Notably, up to 75% of the shares are earmarked for Qualified Institutional Buyers (QIB), a minimum of 15% for Non-Institutional Investors (NII), and at least 10% is reserved for Retail Investors.Don’t Miss Out on Zaggle IPO – The Next Game-Changer in Financial Services The floor price for Zaggle IPO shares is set at 156 times their face value, while the cap price is set at 164 times the face value.Don’t Miss Out on Zaggle IPO
An interesting aspect to highlight is that, according to the Red Herring Prospectus (RHP), Zaggle does not have any listed industry peers in India or abroad, making it a unique and potentially lucrative investment opportunity.
Zaggle specializes in providing innovative financial solutions with the goal of empowering enterprises, startups, and SMEs. In the fiscal year ending on March 31, 2022, Zaggle reported total revenues of ₹371.66 crores. As of March 31, 2023, the company’s assets were valued at ₹234.76 crores, while its revenue surged to ₹554.58 crores. This growth contributed to an increased net worth of ₹48.75 crores, supported by a profit after taxes of ₹22.90 crores, along with reserves and a surplus of ₹39.36 crores.
However, it’s important to be aware that Zaggle’s financial journey has also witnessed periods of losses, as indicated by the profit after tax of ₹338.59 crores as of March 31, 2023, according to reports.
Here are some key insights into the Zaggle IPO:
- The IPO consists of a fresh issue of shares worth ₹392 crore and an offer for sale (OFS) portion. The OFS includes 10,449,816 shares of ₹1 each, totaling ₹171.38 crore. These shares are being sold by promoter selling shareholders such as Raj P Narayanam, Avinash Ramesh Godkhindi, and other selling shareholders. The overall issue size for the Zaggle IPO stands at ₹563.38 crores.
- The company has outlined its plans for utilizing the net proceeds from the offering. These funds are intended to cover various aspects, including customer acquisition and retention costs, product and technology development, general corporate expenses, and the repayment or prepayment of certain borrowings, either partially or in full.
- The book running lead managers for the IPO include ICICI Securities Limited, Equirus Capital Private Limited, IIFL Securities Limited, and JM Financial Limited, with Kfin Technologies Ltd serving as the registrar for the offering.
Given these details, potential investors are encouraged to conduct thorough research and consult with financial advisors to make an informed decision regarding their subscription to the Zaggle Prepaid Ocean Services IPO.