About the Company
- Zaggle Prepaid Ocean Services is a leading Indian financial technology company that provides spend management solutions to businesses of all sizes. Founded in 2011, Zaggle has created a market niche by offering a combined solution for spend management through prepaid cards and employee management (through SaaS).
- Zaggle has a customer base of over 8,000 businesses and over 2 million employees. Its customers include some of India’s leading companies, such as HDFC Bank, ICICI Bank, and Axis Bank.
- Zaggle is committed to providing its customers with innovative and best-in-class spend management solutions. The company is constantly investing in new technologies and developing new products and services to meet the changing needs of its customers.
- Zaggle’s vision is to be the leading provider of spend management solutions in India. The company is well-positioned to achieve this vision with its strong team, innovative products and services, and large and growing customer base.
- The Zaggle IPO is a good opportunity for investors to participate in the growth of the Indian fintech market. The IPO is open for subscription from September 14 to 18, 2023.
Company Website: https://www.zaggle.in/
The products & services offered by the company:
Zaggle’s products and services include:
- Prepaid corporate cards: Zaggle offers a range of prepaid corporate cards that can be used for employee expenses, rewards and recognition, and travel and entertainment.
- The Zaggle Payroll Card, Kuber Gift Card (a gift card that works at both online and offline outlets where VISA/RuPay cards are accepted in India), and Zinger Multi-wallet Card (a reloadable card with multiple wallets that works at both online and offline outlets where VISA/RuPay cards are accepted in India).
- Employee management SaaS platform: Zaggle’s SaaS platform helps businesses automate and streamline their employee expense management, rewards and recognition, and gift card programs.
The objective of Zaggle Prepaid Ocean Services Limited IPO:
The objective of the Zaggle IPO, as per the RHP, is to raise ₹392 crores through a fresh issue of equity shares and an offer for the sale of existing equity shares.
The proceeds from the IPO will be used for the following purposes:
- Customer acquisition and retention: Zaggle plans to use the proceeds to invest in marketing and sales initiatives to acquire new customers and retain existing customers.
- Product and technology development: Zaggle plans to use the proceeds to invest in the development of new products and technologies to improve its spend management solutions.
- Repayment/pre-payment of certain borrowings: Zaggle plans to use the proceeds to repay or pre-pay certain borrowings, in full or in part.
- General corporate purposes: Zaggle plans to use the proceeds for general corporate purposes, such as working capital requirements and capital expenditure.
The IPO of Zaggle Prepaid Ocean Services Limited is being offered at a price band of Rs. 156-164 per share. The issue opens on September 14, 2023, and closes on September 18, 2023. The company is targeting to raise Rs. 392.0 crores through the IPO.
useful information
Zaggle Prepaid IPO Lot Size
| IPO Activity | Date |
|---|---|
| Issue Price | 156-164 |
| Market 1 Lot: | 90 Shares |
| 1 Lot Amount: | 14760 |
| Min Small HNI Lots(2-10 Lakh): | 14 Lots |
| Min Big HNI Lots(10+ Lakh): | 68 Lots |
Zaggle Prepaid IPO Dates
| IPO Activity | Date |
|---|---|
| IPO Open Date | 14-09-2023 |
| IPO Close Date | 18-09-2023 |
| Basis of Allotment Finalization Date* | 22-09-2023 |
| Refunds Initiation* | 25-09-2023 |
| Credit of Shares to Demat Account* | 26-09-2023 |
| IPO Listing Date* | 27-09-2023 |
Zaggle Prepaid IPO Details
| IPO Issue Price: | 156-164 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| IPO Listing At: | NSE, BSE |
| Retail Quota: | Not more than 10% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹563.38 Cr |
| Fresh Issue: | ₹392.00 Cr |
| Face Value: | ₹10 Per Equity Share |
| Promoter Holding Pre IPO: | 57.91 % |
| Promoter Holding Post IPO: | 44.10 |
Zaggle Prepaid IPO GMP Trend
| GMP Date | GMP | Estimated Listing Price | Last Updated Time |
|---|---|---|---|
| 13-09-2023 | 36 | 197 (20.12 %) | 13-Sep-2023 9:00 PM |
| 14-09-2023 | 33 | 200 (21.95 %) | 14-Sep-2023 11:00 PM |
| 15-09-2023 | 20 | 184 (12.20%) | 15-Sep-2023 10:00 PM |
| 16-09-2023 | 15 | 179 (9.15 %) | 16-Sep-2023 10:00 PM |
| 17-09-2023 | 15 | 179 (9.15 %) | 17-Sep-2023 10:00 PM |
| 18-09-2023 | 12 | 176 (7.32%) | 18-Sep-2023 10:00 PM |
| 19-09-2023 | 11 | 175 (6.71%) | 19-Sep-2023 10:00 PM |
| 20-09-2023 | 14 | 178 (8.54 %) | 20-Sep-2023 10:00 PM |
| 21-09-2023 | 14 | 178 (8.54 %) | 21-Sep-2023 10:00 PM |
Key Ratios
- PE ratio: 87.4 (Post IPO)
- PB Ratio: 4.7 (Post IPO)
Key risks
The key risks associated with the Zaggle IPO include:
- Aggressive valuations: Zaggle is pricing its IPO at a premium to its peer companies. If the company fails to meet expectations, the stock price could decline significantly.
- Competitive landscape: The spend management market is highly competitive, with several well-established players. Zaggle will need to differentiate itself from its competitors in order to gain market share.
- Regulatory risks: The spend management industry is subject to a number of regulations. Zaggle will need to comply with all applicable regulations in order to maintain its business.
- Dependence on key customers: Zaggle’s largest customers account for a significant portion of its revenue. If any of these customers were to reduce their spending, it could have a negative impact on Zaggle’s financial performance.
- Uncertainty about future growth: Zaggle is still a relatively young company and it is difficult to predict its future growth prospects. Investors should carefully consider the company’s growth strategy and execution before investing.
Zaggle Prepaid IPO Subscription (NSE + BSE)
| Day | Date | QIB | NII | RII | Total |
|---|---|---|---|---|---|
| 1 | 14thSep 2023 | 0.00x | 0.11x | 0.92x | 0.20x |
| 2 | 17th Sep 2023 | 0.00x | 0.30x | 1.99x | 0.44x |
| 3 | 18th Sep 2023 | 16.94x | 9.08x | 5.08x | 12.78x |
Risk
Zaggle Prepaid Past Financials
Financial Statement (in Rs. Crores)
| Financial Metrics | FY21 (Rs cr) | FY22 (Rs cr) | FY23 (Rs cr) |
|---|---|---|---|
| Revenue | 240 | 371 | 553 |
| EBIT (Earnings Before Interest and Taxes) | 26 | 58 | 42 |
| PAT (Profit After Tax) | 19 | 42 | 23 |
| Net Worth | -46 | -4 | 49 |
| Total Debt | 73 | 70 | 141 |
Zaggle Prepaid IPO Allotment Status Check
Check Chavda Infra SME IPO allotment status on the Linkintime website allotment URL. Click Here
On the IPO GMP Dashboard, you can view the live GMP status of all current and past IPOs (issues that have been closed but have not yet been listed). Moneyvigyan.com continually updates the performance of the IPO GMP. The listing price and the IPO GMP can be tracked and compared here on the IPO GMP Dashboard.
Is Zaggle Prepaid a good investment?
Whether Cellecor Gadgets is a good investment for you depends on your individual investment goals and risk tolerance. Here are some factors to consider:
- The company’s financial performance: Cellecor Gadgets has been growing its revenue and net profit in recent years. However, the company is still relatively young and has not yet generated a lot of cash flow.
- The competitive landscape: The consumer electronics market is a crowded and competitive market. Cellecor Gadgets will need to differentiate itself from its competitors in order to be successful.
- The valuation: Cellecor Gadgets is currently trading at a P/E ratio of 25x, which is higher than the average P/E ratio for the consumer electronics sector. This means that investors are expecting the company to grow its earnings at a faster rate than the average company in the sector.
- Your investment goals: If you are looking for a long-term investment with the potential for high growth, Cellecor Gadgets could be a good option. However, if you are looking for a more stable investment with lower risk, you may want to consider other options.
Ultimately, the decision of whether or not to invest in Cellecor Gadgets is up to you. I recommend doing your own research and consulting with a financial advisor before making any investment decisions.
FAQs
When does the Zaggle Prepaid IPO open and close?
the Zaggle Prepaid IPO is open from 18th September to 18th September 2023.
What is the allotment date for the Zaggle Prepaid IPO?
The allotment date for Zaggle Prepaid IPO is 26th Sep 2023.
What is the listing date for the Zaggle Prepaid IPO?
The Zaggle Prepaid IPO will be listed on the 27th of September.
What is the price band for Zaggle Prepaid IPO?
the price band for Zaggle Prepaid IPO is Rs. 156-164.
Disclaimer: No financial information published anywhere on this site should be interpreted as a recommendation to buy or sell securities or as any other kind of offer to do so. Every piece of material published on this site is just for educational and informational reasons and under no circumstances should be used to make financial decisions. Before actually making any investment decisions based on the information provided here, readers must seek the advice of a licensed financial professional. Any actions made by readers based on the material presented here are done so entirely at their own risk. Investors should be aware that any stock market investment is exposed to unpredictably high market risks. The author has no intention of investing in this IPO.
