Leading player in expenditure management, Zaggle Prepaid Ocean Services has a unique value offer and a wide range of customers (Source: Frost & Sullivan Report). Zaggle Prepaid Ocean Services IPO will hit the stock market in April 2023.
Table of Contents
About Zaggle Prepaid Ocean Services
Zaggle Prepaid Ocean Services were incorporated in 2011 and operate in a market where we interact and interface with their customers and end users.
They are one of a select group of players that are uniquely positioned in this market, having one of the largest numbers of issued prepaid cards in India in alliance with certain of their banking partners (12.7% of the country’s total prepaid transaction value as of March 31, 2022), a diversified portfolio of financial technology products and services, and a large number of financial technology partnerships (Source: Frost & Sullivan Report).
Since this market segment of customers is simple to attract and keep at reduced prices, fintech businesses in India are concentrating more and more on it.
Growth
Zaggle Prepaid Ocean Services limited have relationships with companies like TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP – Sanjiv Goenka Group), Hiranandani group, Cotiviti, and Greenply Industries, among others.
They are sector-agnostic, and their network of corporate customers spans the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile industries.
Their SaaS platform, which they pertain to as a “CEMS,” is designed for business spend management (including expense management and vendor management), rewards and incentives management for employees and channel partners, and gift card management for merchants.
It is situated at the intersection of the SaaS and fintech ecosystems. As of September 2021, there were 2.23 million firms registered in India (Source: Frost & Sullivan Report).
Clientle
The total market for SaaS-based spend management software was predicted to reach 81.80 billion in 2021, with outsourced spend management accounting for about 37% of the market. Their main clients give them access to their staff, channel-partners, & clients, providing them with the benefit of a varied User base.
They had 460 SMB accounts & 1,436 corporate accounts as of June 30, 2022. Their average User base per business was 1,046, 983, 828, & 741 Users as of June 30, 2022, March 31, 2022, March 31, 2021, & March 31, 2020, respectively.
15.36 million active cards had been issued as of June 30, 2022, to 1,896 customers throughout India. These customers used their program to control expenses for their staff, company, channel partners, & clients.
Zaggle Prepaid Ocean Services IPO
Zaggle Prepaid Ocean Services Limited, headquartered in Ahmedabad has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of INR 490 Crore and 10,526,316 equity shares on 19 December 2022.
The offer includes a fresh issue of INR 490 Crore and there is offer for sale (OFS) of 10,526,316 equity shares by the promoters mentioned in the DRHP. They are looking for any Pre-IPO placement of INR 98 Crore in this issue.
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- Initial Public Offering
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Financials Trends
| Particulars | For the year/period ended ( in Cr.) | ||||
|---|---|---|---|---|---|
| 30-Jun-22 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | ||
| Total Assets | 114.22 | 92.65 | 62.08 | 49.01 | |
| Total Revenue | 88.66 | 371.66 | 240.29 | 68.36 | |
| Profit After Tax | 6.30 | 41.92 | 19.33 | 3.72 | |
Basic and Diluted Earnings Per Share
| Financial Period | Basic EPS (in INR) | Diluted EPS (in INR) | Weight |
| Financial Year 2020 | 0.41 | 0.41 | 3 |
| Financial Year 2021 | 2.11 | 2.11 | 2 |
| Financial Year 2022 | 4.57 | 4.57 | 1 |
| Weighted Average | 3.06 | 3.06 | |
| 30 June 2022 | 0.68 | 0.68 |
Objects of the Issue
- Repayment/prepayment of debt.
- General corporate objectives and organic growth.
Basis of the offer
Zaggle Prepaid Ocean Services limited feel that the following business strengths enable them to compete successfully in the industry, and that these factors will be used to calculate the Offer Price:
- Unique SaaS-based finance platform that provides API connectors, mobile applications, and a range of payment methods.
- Technology that was developed inside and a strong network effect.
- A business model with a variety of revenue streams and cheap costs for acquiring and keeping customers.
- Cross-sector customer interactions that are diverse as well as preferred banking and business alliances.
- Robust financial and operational indicators.
- Seasoned executive team supported by a skilled workforce and extensive topic experience.
Zaggle Prepaid Ocean Services Peer Comparison
There are no publicly traded companies in India or throughout the world of comparable size, industry, or business strategy as their Company. As a result, they have not supplied an industry comparison for their Company.
Zaggle Prepaid Ocean Services IPO Details
| IPO Opening Date | April 2023 |
| IPO Closing Date | April 2023 |
| Issue Type | Book Building |
| Face Value | 01 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | – |
| Min Amount | – |
| Listing At | BSE, NSE |
| Issue Size | 490 Crore & 10,526,316 equity shares |
| Fresh Issue | 490 Crore |
| Offer for Sale | 10,526,316 equity shares |
Zaggle Prepaid Ocean Services IPO Date
Zaggle Prepaid Ocean Services Limited IPO opening date is April 2023, and the closing date is April 2023. The Zaggle Prepaid Ocean Services issue may list in April 2023.
| IPO Opening Date | April 2023 |
| IPO Closing Date | April 2023 |
| Basis of Allotment Date | April 2023 |
| Initiation of Refunds | April 2023 |
| Credit of Shares to Demat Account | April 2023 |
| IPO Listing Date | April 2023 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 75 |
Roughly equivalent
|
| Non Institutional Investor | 15 |
Roughly equivalent
|
| Retail | 10 | Minimum 1 lot based on availability |
Zaggle Prepaid Ocean Services IPO Status
Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.
Here, you can find the Allotment Status of Zaggle Prepaid Ocean Services IPO.
Zaggle Prepaid Ocean Services IPO GMP
Zaggle Prepaid Ocean Services Limited IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:
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Zaggle Prepaid Ocean Services Limited IPO Review
Zaggle Prepaid Ocean Services Limited IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Zaggle Prepaid Ocean Services IPO is good or bad.
Zaggle Prepaid Ocean Services Limited IPO Risk
- For the purpose of running their prepaid card business, they are dependent on outside payment networks.
- There are no listed industry peers for their company in India or elsewhere.
- It could be difficult for them to increase the usage of their products among their customer base and win broader market acceptability if they don’t successfully establish and enhance their direct sales capabilities.
- Their capacity to establish & keep fruitful connections with channel partners is essential to their success.
- The adoption of their goods may suffer if they are unable to successfully integrate them with software applications created by third parties, particularly their partners.
- Their industry is extremely competitive, & failing to compete effectively could have a profoundly negative impact on their operations.
Other Threats
- It’s possible that their most recent revenue growth rates won’t predict their future financial success. At this scale, they have a short operating history.
- The introduction of new rules and regulations that apply to their firm could have a negative impact on their profitability. Laws and regulations regulating their business may continue to alter & evolve.
- They might struggle to keep customers they now have, win over new ones, turn beta or trial users into paying customers, or increase usage of their products within or among client organizations.
- Over the course of their contracts with their customers, they record revenue. Their revenue declines could not be immediately visible in their operating results for one or more quarters after they actually happen.
Zaggle Prepaid Ocean Services Limited IPO Brokerage views
Once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this Zaggle Prepaid Ocean Services IPO:
- Yes Securities : Not Updated
- Choice Brokering: Not Updated
- Axis Securities: Not Updated
- IIFL Securities: Not Updated
- Trade swift: Not Updated
- Anand Rathi : Not Updated
- ICICI Securities: Not Updated
Zaggle Prepaid Ocean Services Limited IPO Subscription Status
| Date | Day | QIB | NII | Retail | Employees | Total Subscription |
| April 2023 | 1 | |||||
| April 2023 | 2 | |||||
| April 2023 | 3 |
Zaggle Prepaid Ocean Services Limited Management
Raj P Narayanam, their promoter & executive chairman, who founded their company in 2011 and has experience in the technology & financial industries, serves as their leader.
Avinash Ramesh Godkhindi, their managing director & chief executive officer, has experience in the banking sector and was given the “Inspiring CEO” award by the Economic Times in 2022. Venkata Aditya Kumar Grandhi, the chief financial officer, has prior expertise in the financial services sector.
Their educated and professionally qualified workforce, which includes experts with in-depth knowledge, expertise, and experience in the fintech, banking, technology, infrastructure, and healthcare industries, supports their senior management team.
Their senior management team is skilled in their respective fields and industries and is capable of leading teams and launching new solutions.
Zaggle Prepaid Ocean Services Limited‘ Principal Shareholders
- Raj P Narayanam
- Avinash Ramesh Godkhindi
Principal Shareholders’s Holding
| Pre Issue Share Holding | 61.66% |
| Post Issue Share Holding |
Zaggle Prepaid Ocean Services Limited Prospectus
Contact Details
Zaggle Prepaid Ocean Services Limited
301, III Floor, CSR Estate,
Plot No.8, Sector 1, HUDA
Techno Enclave, Madhapur
Main Road, Hyderabad,
Rangareddi 500 081,
Telangana, India
Email: [email protected]
Telephone: +91 40 23119049
Website: www.zaggle.in
Registrar
KFin Technologies Limited
Selenium, Tower-B
Plot 31 and 32, Financial District
Nanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032
Telangana, India
Telephone: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
Lead Manager(s)
- ICICI Securities Limited
- Equirus Capital Private Limited
- IIFL Securities Limited
- JM Financial Limited
We hope we are able to answer all your questions about Zaggle Prepaid Ocean Services IPO. If you don’t have a Demat account, open it now with Zerodha best trading app of India.
Disclaimer
The reference of IPO Grey Market Premium (IPO GMP) is only valid for the date specified in the header.
On the IPO Grey Market, we do not purchase or sell IPO forms.
The Kostak Rate is the profit earned by selling an IPO application (in an off-market transaction) to somebody else before the issue is allotted or listed.
Do not subscribe to an IPO based solely on the premium price, as it may alter at any time before to the listing. Only consider the fundamentals of the companies when subscribing.
The GMP rates for IPOs are based on market intelligence. Please keep in mind that these IPO GMP rates may vary by geography and market.
Note:
Profit must do not engage in grey market trading or facilitate the purchase or sale of IPO forms. We don’t endorse such activities at all. We are sticky against such activities & never advise anyone to trade in grey market at all.
FAQ
Zaggle Prepaid Ocean Services Limited IPO Opening Date?
Zaggle Prepaid Ocean Services Limited IPO will open in April 2023.
Zaggle Prepaid Ocean Services Limited IPO Listing Date?
Zaggle Prepaid Ocean Services Limited IPO will list in April 2023.
Zaggle Prepaid Ocean Services IPO GMP Today?
Zaggle Prepaid Ocean Services IPO Grey Market Premium is INR 0 .
Zaggle Prepaid Ocean Services Limited IPO Allotment Date?
Zaggle Prepaid Ocean Services Limited IPO basis of allotment will be in April 2023.
Lot size for Zaggle Prepaid Ocean Services Limited IPO?
Lot size for Zaggle Prepaid Ocean Services Limited IPO is 0.
