“Zaggle Prepaid Ocean Services Limited IPO: Your Path to Opportunity”

zaggle ocean prepaid


  • Founded in 2011, Zaggle Prepaid Ocean Services Limited specializes in fintech and SaaS solutions.
  • Their services target a wide range of industries, including banking, technology, healthcare, manufacturing, FMCG, infrastructure, and automobiles.
  • The company’s SaaS platform covers business expense management, vendor management, employee and channel partner incentives management, and merchant gift card management (CEMS).

Zaggle’s product portfolio includes:

  • Propel: A corporate SaaS platform for channel rewards, incentives, and employee recognition.
  • Save: A SaaS-based platform and mobile app for digitized expense management and employee reimbursements.
  • CEMS: A customer engagement management system for comprehensive merchant customer experiences, including gift cards and loyalty rewards.
  • Zaggle Payroll Card: A prepaid card for paying contractors, consultants, seasonal/temporary employees, and unbanked wage workers.
  • Zoyer: An integrated, data-driven SaaS platform for business spend management with automated finance capabilities in core invoice-to-pay workflows.

Zaggle Prepaid Ocean Services serves clients including TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP Sanjiv Goenka Group), Hiranandani Group, Cotiviti, Greenply Industries, and others.

As of fiscal 2023, the company boasts:

  • Over 250 employees
  • 7 offices throughout India
  • More than 1,750 customers
  • Over 1.7 million end users.
zaggle owner with bumrah

Zaggle Prepaid Ocean Services IPO Details

IPO DateSeptember 14, 2023 to September 18, 2023
Listing DateWednesday, September 27, 2023
Face Value₹1 per share
Price Band₹156 to ₹164 per share
Lot Size90 Shares
Total Issue Size
(aggregating up to ₹563.38 Cr)
Fresh Issue
(aggregating up to ₹392.00 Cr)
Offer for Sale10,449,816 shares of ₹1
(aggregating up to ₹171.38 Cr)

Zaggle Prepaid Ocean Services IPO Timeline (Tentative Schedule)

IPO Open DateThursday, September 14, 2023
IPO Close DateMonday, September 18, 2023
Basis of AllotmentFriday, September 22, 2023
Initiation of RefundsMonday, September 25, 2023
Credit of Shares to DematTuesday, September 26, 2023
Listing DatWednesday, September 27, 2023

Key Performance Indicator

P/E (x)66.67
Post P/E (x)87.23
Market Cap (₹ Cr.)2002
EPS (Rs)2.46

Zaggle Prepaid Ocean Services IPO Lot Size

Retail (Min)190₹14,760
Retail (Max)131170₹191,880
S-HNI (Min)141,260₹206,640
S-HNI (Max)676,030₹988,920
B-HNI (Min)686,120₹1,003,680

Zaggle Prepaid Ocean Services IPO Promoter Holding

Share Holding Pre Issue57.91%
Share Holding Post Issue
zaggle ocean prepaid

Company Financials:

Period Ended31 Mar 2023
Profit After Tax22.90
Net Worth48.75
Reserves and Surplus39.36
Total Borrowing121.07
Amount in ₹ Crore

Objects of the Issue:

The company plans to use the net proceeds from the issue for the following purposes:

  • Investment in customer acquisition and retention.
  • Development of technology and products.
  • Repayment or pre-payment of certain borrowings, either fully or partially.
  • General corporate purposes.
team of zaggle

Zaggle Prepaid Ocean Services IPO Review (May apply)

The company, with its wide range of fintech products and services, holds a distinctive position in the market. While the IPO seems to have a high price tag, the company is capitalizing on its unique business model. Savvy investors might consider investing for potential medium to long-term gains.

Zaggle Prepaid Ocean Services IPO Subscription Status (Bidding Detail)

  • The Zaggle Prepaid Ocean Services IPO is subscribed 0.20 times as of Sep 14, 2023, at 7:02 PM.
  • The retail category recorded a subscription of 0.92 times.
  • The QIB category had no subscriptions.
  • The NII category witnessed a subscription of 0.11 times.

Check Day by Day Subscription Details (Live Status)

Zaggle Prepaid Ocean Services IPO GMP:

  • Zaggle Prepaid Ocean Services IPO last GMP is ₹33, last updated on Sep 14th, 2023, at 09:00 PM.
  • With a price band of ₹164.00, the estimated listing price for Zaggle Prepaid Ocean Services IPO is ₹197 (capital price + today’s GMP).

  • The expected percentage gain/loss per share is 20.12%.
  • For retail investors, the subject-to-sauda price is ₹2300.
  • Small HNI investors’ subject-to-sauda price is ₹32200.

check day by day GMP Details(Live Status)

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The content provided here should not be interpreted as an invitation or solicitation to buy or sell securities, nor should it be regarded as guidance for such actions. All material presented is intended solely for educational and informational purposes and should not be utilized for making investment choices in any manner. It is imperative to recognize that any data shared here carries no intent to influence investment decisions. Any individual considering investment moves should first seek guidance from a qualified financial advisor, taking into account the particulars of their circumstances.

It is vital to underscore that any decisions based on the information shared here are undertaken at one’s own risk. As with all investments in the stock market, it’s important to acknowledge the inherent and unpredictable risks associated with such endeavors.

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