Category: Business

Zaggle, a spend management platform, is opening its IPO on September 14 to raise INR 563 crore. The proceeds will be used for customer acquisition, tech development, and debt repayment. The IPO is expected to be well-received. Here are some key highlights: Anchor book opens on September 13. Offer closes on September 18. Minimum investment for retail investors is INR 10,000. Company has a strong management team and backers. Overall, the Zaggle IPO is a good opportunity for investors to participate in the growth of a leading spend management platform in India.

Kahan Packaging's IPO was subscribed 690 times, setting a new record for SME IPOs in India. The company will use the proceeds to expand its manufacturing capacity, repay debt, and fund working capital requirements. The strong subscription is a positive indicator of the growth prospects of the SME sector in India. Here are the key factors that contributed to the high subscription: Strong track record of growth and profitability Growing demand for packaging solutions in India Attractive valuation Strong interest from retail investors The successful listing of Kahan Packaging is a positive development for the SME sector. It will encourage other small and medium-sized businesses to go public and raise capital to fund their growth plans.

The BSE's net profit jumped 11x to Rs 440 crore in Q1 FY24, driven by the sale of its stake in CDSL for Rs 340 crore and growth in core businesses.