Tag: Zaggle Prepaid Ocean Services

Zaggle's IPO subscribed 12.57 times, raising Rs 563.38 crore. The company will use the money for customer acquisition, product development, and debt repayment. It's a B2B2C fintech player with steady revenue and profitability growth. Shares to list on Sept 27.

Zaggle IPO subscribed 43% on Day 2, with retail investors providing good support. However, the response from HNIs and QIBs was lukewarm. The company is bringing the issue at a price band of Rs 156-164 per share at a P/E multiple of 87x on an issue FY23 basis. Analysts are cautious about the IPO given the lukewarm response from QIBs and the aggressive pricing. They advise investors to do their own research and invest carefully.

The maiden public issue of business spend management platform Zaggle Prepaid Ocean Services was subscribed 19% on the first day of bidding. Retail investors have subscribed 87% of their portion, while HNIs (non-institutional investors) have subscribed 11%. QIBs are yet to show their interest in the IPO. The IPO closes on September 18.

The company will use the proceeds from the IPO to fund customer acquisition and retention, development of technology and products, and repayment of debt. Zaggle is targeting a market that is expected to grow at a CAGR of 20% over the next few years. The IPO is expected to be well-received by investors, given the strong demand for new listings in the Indian market.

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.