Zaggle Prepaid Ocean Services IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP

An initial public offering is a process a private firm must go through to become a public company. For three to four days, the firm will offer a small number of shares for the subscription. Based on the subscriptions, the company’s IPO authority will distribute the shares.

It takes roughly ten days to complete the event. And the next company that is ready to begin this transition is Zaggle Prepaid Ocean Services. The business just disclosed its filing of DRHP. So, let’s take a look at the details which is available about the Zaggle Prepaid Ocean Services IPO in this Zaggle Prepaid Ocean Services IPO Review.

Zaggle Prepaid Ocean Services IPO Overview

For its initial public offering, Zaggle Prepaid Ocean Services has submitted a drafts red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) (IPO). The IPO consists of a fresh Rs. 490 crore equity share issue and a 1.05 crore stock offer for sale (OFS) by the promoters, investors, and other shareholders.

Continue reading for more information on this new and forthcoming Zaggle Prepaid Ocean Services IPO.

Zaggle Prepaid Ocean Services IPO Important Dates

When it comes to IPO listing, knowing the right bidding dates makes a whole lot of difference in the bidding process and also in analyzing the stock. Currently, the organization has not listed the open-close dates, allotment dates, listing dates, etc. These Zaggle Prepaid Ocean Services IPO dates will be available as the company publicizes the information post-IPO document approval.

Zaggle Prepaid Ocean Services IPO Price, Size, Share Offerings

The company is going to initiate the process by Zaggle Prepaid Ocean Services IPO Size of Rs. 490 Cr. worth of fresh issues and a total of 10,526,316 shares as an offer for sale. The face value of the share is Re.1 per share. Other than this information, there are not many details revealed by the listing company. For the Zaggle Prepaid Ocean Services IPO price band and lot sizes, the interested parties will have to wait for some more time.

Zaggle Prepaid Ocean Services IPO Grey Market Premium

The grey market premium is the additional cost that is added to the price band of the IPO listed share price. The grey market trading begins a few days before the IPO bidding dates.

But as the company has not even announced the IPO bidding dates, there is no action in the grey market. Once the investors start trading in the grey market, the Zaggle Prepaid Ocean Services IPO GMP and related details will be provided in the table above.

Zaggle Prepaid Ocean Services IPO Subscription Status

The Zaggle Prepaid Ocean Services IPO Subscription status notifies how many shares have been subscribed and the number which is available for bidding.  Of the total shares available for subscription, 75% is offered to Qualified Institutional buyers.

And the remaining shares are divided as 15% for high-net-worth investors and 10% for retail investors. All of these are information available on this link here.

Zaggle Prepaid Ocean Services IPO Allotment Status

The IPO needs to be live to check the Zaggle Prepaid Ocean Services IPO Allotment status. As of now, the company has only filed for IPO with SEBI. Once the approval is given, the IPO bidding will begin and after the bidding closes, the allotment will be done by the company and the same can be checked by the interested parties here.

Zaggle Prepaid Ocean Services IPO Live Performance

The best way to keep track of the Zaggle Prepaid Ocean Services share price and garner market sentiment for the stock is to track the live Zaggle Prepaid Ocean Services IPO performance in the market. If you are also looking to do the same, check out this link here to find out more about it.

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Latest Zaggle Prepaid Ocean Services IPO News

The most relevant Zaggle Prepaid Ocean Services IPO news about its DRHP filing. Apart from this, any other information is currently not available. As of now, the media is covering the financial performance and the strengths of the company which will help the investors analyze the shares.

Zaggle Prepaid Ocean Services – Company Review

Zaggle Prepaid Ocean Services is a company that specializes in business-to-business-to-customer transactions. Founded in 2011, as of 2022, the company has an ecosystem consisting of 1.5 million users and 1,750+ customers. By providing a combined solution for spend management via prepaid cards and personnel management, it has carved out a market niche in the nation (through SaaS).

The company’s SaaS platform is created for business spend management (including cost management), rewards and incentive management for employees and channel partners, and a customer engagement management system. It is situated at the convergence of the SaaS and fintech ecosystems. In India, Zaggle provides services to start-ups, small and medium-sized businesses, and major corporations.

Products or Services

Businesses can take advantage of employee tax benefits, company and employee expenditure management, employee incentives, employee benefits management, channel rewards and incentives, employee rewards and recognition, and Zoyer’s SaaS services (which include Propel, Save, CEMS, and Zoyer).

The services/products are:

Zoyer: Zoyer is a fully integrated, data-driven SaaS platform for company expenditure management that includes automated finance capabilities in its fundamental invoice-to-pay workflows.

Save: Save is a SaaS-based platform and mobile application that provides cost management solutions for company spend management and enables digitalized employee reimbursements and tax advantages.

Propel: Propel is a business SaaS platform for channel incentives, employee awards, and employee recognition.

Other services include:

Zaggle Payroll Card: As an alternative to cash payments or direct deposits into bank accounts, Zaggle Payroll Card is a prepaid payroll card that enables ZPOSL’s customers to pay freelancers, consultants, seasonal and temporary workers, and unbanked wage workers.

CEMS: CEMS is a system for managing customer engagement that enables businesses to fully control the customer experience, including rewarding customers with gift cards and loyalty rewards.

Promoters and Holding

The promoters of the company are:

• Raj P Narayanam
• Avinash Ramesh Godkhindi

Both promoters are diluting all the shares they hold in the company which are 47,685,000 and 9,180,000, respectively.

Is Zaggle Prepaid Ocean Services Good for Investment?

The business operates under the guiding principle of completing the mission to develop cutting-edge financial solutions workflow and products that will empower and automate businesses to increase efficiency, accuracy, transparency, and productivity and will ultimately assist India in achieving its goal of becoming a digital economy.

With this aim, the company is now close to turning its private company into a public company by launching the Zaggle Prepaid Ocean Services IPO. One of the major strengths of the company which makes it a profitable investment is that it is one of the uniquely placed players in the industry and has the strategic efficiency of maintaining a 95% customer retention rate.

Zaggle Prepaid Ocean Services Financial Statements

Zaggle Prepaid Ocean Services IPO Review

The Zaggle Prepaid Ocean Services IPO issued will have Rs. Rs. 490 crore equity share as a fresh issue and 1.05 Cr. Stakeholders and promoters dilute the OFS shares.

The fresh issue’s net proceeds will be used to fund client acquisition and retention, product and technology development, loan repayment or prepayment, and other working capital requirements for carrying out daily operations. With such clear long-term goals, the company is on the path to increasing the investor’s investments and ensuring regular returns.

More details will eventually be added to this Zaggle Prepaid Ocean Services IPO Review as soon as they are revealed.

Zaggle Prepaid Ocean Services IPO Details

Here are a few more details you need to know before investing in Zaggle Prepaid Ocean Services IPO –

Zaggle Prepaid Ocean Services IPO Issue Object

Thus, Zaggle Prepaid Ocean Services has proposed diverse objectives for making the IPO offer and some of the objectives are:

• Expenditure towards Customer acquisition and retention
• Expenditure towards the development of technology and products
• Repayment/ pre-payment of certain borrowings, in full or part, availed by our Company
• General corporate purposes

Zaggle Prepaid Ocean Services IPO – Basis of Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

• Differentiated SaaS-based fintech platform, offering a combination of payment instruments, mobile applications and API integrations;
• In-house developed technology and strong network effect
• Business model with diverse sources of revenue and low customer acquisition and retention costs;
• Diversified customer relationships across sectors along with preferred banking and merchant partnerships
• Robust operating and financial metrics
• Seasoned management team with deep domain expertise supported by a professional workforce.

Quantitative factors are:

Zaggle Prepaid Ocean Services IPO Lead Managers

Here is the list of Lead managers –

• CICI Securities Limited
• Equirus Capital Private Limited
• IFL Securities Limited
• JM Financial Limited

Zaggle Prepaid Ocean Services IPO Registrar to offer

Check out the details of the registrar here –

Zaggle Prepaid Ocean Services IPO – Other Details

• Statutory Auditor -PRSV & Co.LLP, Chartered Accountants, together with M S KA & Associates, Chartered Accountants
• Legal Counsel to the Company – NA
• Bankers to the Company – NA

Zaggle Prepaid Ocean Services IPO Verdict by Stock Brokers

ZPOSL, which has a unique value proposition and a wide range of users, is a prominent player in spend management, according to a Frost & Sullivan analysis. Some of its well-known clients include PCBL, Wockhardt, AON, Inox, Wockhardt, Tata Steel, and Pitney Bowes.

Its operating model is a major strength. The ZPOSL’s model is a crucial differentiator since it implements the strategy of developing big User bases through corporate and SMB Customers, allowing it to minimize its expenditures incurred on the acquisition of new users in comparison to other B2C/retail-oriented businesses.

In a market with many competitors, the company’s ability to freely use its resources to retain clients makes it a worthwhile Zaggle Prepaid Ocean Services IPO for many HNIs and retail customers.

Zaggle Prepaid Ocean Services IPO – Conclusion

The fintech sector and the spend management market in India are both experiencing rapid growth, increased competition, fragmentation, and vulnerability to new market entrants, changing user and customer needs, moving technology, and regular introductions of new goods and services.

However, the ZPOSL’s ecosystem enables parties with complementary services to connect, generating a network effect for companies, staff, channel partners, customers, merchants, and banks, allowing it to take considerable market share. Just over a decade old, and already performing well and poised for an IPO, says a lot about the core management of the company.

As a result, joining this ecosystem will help many investors diversify their portfolios. Feel free to use this Zaggle Prepaid Ocean Services IPO review as the base for your analysis of the company.

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Zaggle Prepaid Ocean IPO Review FAQs

Check out the FAQs on Zaggle Prepaid Ocean IPO –

What is the Issue Size of Zaggle Prepaid Ocean IPO?

The Company is making an initial public offer of 34,352,255 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

What is the Price band of Zaggle Prepaid Ocean IPO?

The price band for this particular IPO ranges between Rs 156 to Rs 164. As far as the face value of the share is of concern, it is Rs.1 per share.

What is the Zaggle Prepaid Ocean IPO Open Date?

The opening and closing dates for this IPO have been updated. The IPO is set to open on September 14, 2023, while the closing date is set for September 18, 2023.

What is the Zaggle Prepaid Ocean IPO Allotment Date?

They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on September 22, 2023, refund initiation is on September 25, 2023, credit of shares is on September 26, 2023, and share listing date is on September 27, 2023.

What is the Zaggle Prepaid Ocean IPO Listing Date?

Shares of this company shall be listed in the exchanges September 27, 2023. The date, when the listing would be done, is stagnant on September 27, 2023.

Who is the Registrar of Zaggle Prepaid Ocean IPO?

One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.

Who is the Promoter of Zaggle Prepaid Ocean IPO?

Here are the promoters of this IPO – RAJ P NARAYANAM AND AVINASH RAMESH GODKHINDI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

What is the GMP of Zaggle Prepaid Ocean IPO?

They have obtained the GMP of this IPO and it is Rs. NA. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.

Is Zaggle Prepaid Ocean IPO Good for Investment?

They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

What is the PAT of Zaggle Prepaid Ocean Services Company?

They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Million is 419.21, 2021 is 193.30, 2020 is 37.19. PAT from Jun 2022 is 63.00.

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