IPO Details
Bidding Dates
14 Sep '23 - 18 Sep '23
Minimum Investment
₹14,760/1 Lots (90 Shares)
Price Range
₹156 - ₹164
Maximum Investment
₹191,880/13 Lots (1170 Shares)
Retail Discount
Not Applicable
Issue Size
₹563.38 Cr
Investor category and sub category
Qualified Institutions Buyers | Non-Institutional Buyers | Retail Investors |Zaggle Prepaid Ocean Services IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 14, 2023
IPO Closing Date
Sep 18, 2023
Basis of Allotment
Sep 22, 2023
Initiation of Refunds
Sep 25, 2023
Credit of Shares to Demat Account
Sep 26, 2023
IPO Listing Date
Sep 27, 2023
UPI mandate confirmation
Sep 18, 2023
Zaggle Prepaid Ocean Services IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Sep 14, 2023 |
0.00 | 0.11 | 0.92 | 0.20 |
Day 2Sep 15, 2023 |
0.00 | 0.30 | 1.99 | 0.44 |
Day 3Sep 18, 2023 |
16.94 | 9.16 | 6.15 | 12.86 |
Zaggle Prepaid Ocean Services IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 16.94 |
| Non-Institutional Investors | 9.16 |
| Retail Investors | 6.15 |
| Total | 12.86 |
About Zaggle Prepaid Ocean Services Ltd
Zaggle Prepaid Ocean Services Ltd was established in 2011 with a focus on delivering fintech products and services tailored to the needs of corporate expense management. The company's innovative and automated workflows are designed to cater to the specific requirements of businesses. Zaggle Prepaid Ocean Services Ltd provides fintech and Software as a Service (SAAS) solutions to a wide range of industries, including banking, fintech, healthcare, FMCG, automobiles, infrastructure, and industrial manufacturing.
Zaggle Prepaid Ocean Services Ltd offers a diverse product portfolio, including:
- Propel Platform: This SAAS platform is dedicated to channel rewards, incentives management, and employee recognition.
- Save SAAS Platform: This platform offers a mobile application for streamlined expense management, digitised authentication, and employee reimbursements.
- Zaggle Customer Engagement Management Services (CEMS): Merchants can utilise this system to comprehensively manage their customer experience initiatives within a single integrated platform.
- Zaggle Payroll Card: The Zaggle payroll card serves as a prepaid alternative for paying contractors, temporary employees, and contract workers, replacing traditional cash or bank payments.
- Zoyer: An integrated, data-driven SAAS platform, Zoyer facilitates spend management while incorporating automated finance capabilities.
The SAAS platform developed by Zaggle Prepaid Ocean Services Ltd serves three primary purposes:
- Business Spend Management: This aspect involves the efficient management of corporate expenses and vendor relationships.
- Rewards and Incentives Program: The platform is designed to facilitate an effective rewards and incentives program for both employees and channel partners based on their performance.
- Gift Card Management: The SAAS platform also handles gift card management for merchants, contributing to enhanced customer engagement management.
Zaggle Prepaid Ocean Services Limited offers tailored solutions for startups, SMEs, and corporate clients. They boast a robust presence with 1,750+ corporate clients and a staggering 1.7 million users worldwide.
They have issued 45 million prepaid gift cards since their inception and employ a workforce of over 250 professionals. The company also have a physical presence in seven offices and collaborations with two network partners, viz. RuPay and VISA.
The company boasts an impressive clientele that includes renowned organisations such as Tata Steel, Persistent Systems, Inox, Pitney Bowes, Wockhardt, Mazda, Philips Carbon Black (PCBL), Hiranandani Group, Greenply Industries, and Cotiviti.
According to Grand View Research, the global fintech-as-a-service market reached a value of approximately $232.14 billion in 2021. It is projected to experience a steady growth rate of 17.2% annually from 2022 to 2030.
Additionally, the fintech SaaS market in India is anticipated to undergo significant expansion, with a 2.7-fold increase expected over the next 3 years, going from $4.6 billion in 2022 to $12.6 billion in 2025. Zaggle Prepaid Ocear Services Ltd can capitalise on this potential to expand.
Zaggle Prepaid Ocean Services Ltd Details
Zaggle Prepaid Ocean Services Ltd Date
The IPO of Zaggle Prepaid Ocean Services Limited is scheduled to commence its subscription period on September 14, 2023, and will run until September 18, 2023.
Zaggle Prepaid Ocean Services Ltd Price Band
Zaggle Prepaid Ocean Services Ltd is a fresh issue IPO of ₹392 crore and an Offer for Sale of ₹171.38 crore shares. It is a book-building issue. The price range is set to ₹156 to ₹164 per share.
Zaggle Prepaid Ocean Services Ltd Lot Size
The lot size for Zaggle Prepaid Ocean Services Ltd’s IPO is 90 shares with a minimum investment of ₹14,760.
Zaggle Prepaid Ocean Services Ltd Objectives
The objectives of Zaggle Prepaid Ocean Services Ltd are listed below:
- Securing resources for the purpose of attracting and maintaining customers.
- Allocating funds towards the enhancement of product and technological advancements.
- Settling or making partial repayments on the loans acquired by the company.
- Financing miscellaneous corporate needs and objectives.
How To Check the Allotment Status of the Zaggle Prepaid Ocean Services Ltd?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- As such, Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Zaggle Prepaid Ocean Services Ltd
Registered office: 301, III Floor, CSR Estate, Plot No.8, Sector 1, HUDA Techno Enclave, Madhapur Main Road, Hyderabad, Rangareddi 500 081, Telangana, India
Contact Person: Haripriya Singh (Company Secretary)
Phone: +91 40 23119049
E-mail: haripriya.singh@zaggle.in
Zaggle Prepaid Ocean Services Ltd Company Financials
| Particulars | Year ending on March 31, 2023 (₹ in Million) | Year ending on March 31, 2022 (₹ in Million) | Year ending on March 31, 2021 (₹ in Million) |
|---|---|---|---|
| Total Income | 5,534.60 | 3,712.55 | 2,399.66 |
| Sales Growth (%) | 49.08% | 54.71% | NA |
| Profit After Tax (PAT) | 229.01 | 419.21 | 193.30 |
| Total Borrowings | 1,210.73 | 644.72 | 690.84 |
| Cash & Cash Equivalents | 195.89 | 7.11 | 27.89 |
| Return on Equity (%) | 46.97% | NA | NA |
| Return on Assets (%) | 9.75% | 45.25% | 31.14% |
| Asset Turnover Ratio | 2.36 | 4.01 | 3.87 |
Know before investing
Strengths
5-
The organisation operates as a unique SaaS-driven fintech solution, providing an amalgamation of payment tools, mobile apps, and seamless API integrations.
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Proprietary technology developed in-house, accompanied by a robust network effect.
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A business model characterised by multiple revenue streams and economical customer acquisition and retention strategies.
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Varied client relationships spanning various sectors, strengthened by exclusive banking and merchant partnerships.
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An experienced leadership team boasting extensive industry knowledge, complemented by a skilled professional workforce.
Risks
4-
The company's cash flow stability relies on maintaining relationships with banking partners, potentially impacting operations and profitability if these relationships are terminated.
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The business operations depend on successful integration of Zaggle products with other software, which limits their operational efficiency and success rate with clients. For example, Zaggle’s accounts payable platform, Zoyer, should be compatible with the other client's software/ERP for efficient functioning.
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There are more than 30,000 SAAS companies providing the best services all across the globe. In such a fiercely competitive industry, the company already have several alternatives to their products, with competitive pricing.
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The company has high exposure to counterparty credit risk. Any future failure in counterparty payments might hamper the operations.
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Zaggle Prepaid Ocean Services IPO FAQs
Zaggle Prepaid Ocean Services Ltd is a fresh issue of ₹392 Crore and an offer for sale of ₹171.38 Crore. It is a book-building issue.
The Zaggle Prepaid Ocean Services Ltd’s share will be allotted on September 22, 2023.
The IPO subscription window for Zaggle Prepaid Ocean Services Ltd will open on September 14, 2023.
Retail investors can apply for a minimum of one lot, which is a size of 90 shares, with a sum of ₹14,760.
Zaggle Prepaid Ocean Services Ltd will be listed on BSE and NSE. The stock will be listed on September 27, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- As such, Angel One will notify you of your IPO allotment status via push notification and email.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
