Zaggle IPO listing date today. GMP, experts signal positive debut despite weak market sentiments

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Also Read: Samhi Hotels IPO listing date today. GMP, experts predict par listing Zaggle share listing is expected to be tepid on Friday. Analysts expect Zaggle shares listing price to be at around 5-7% premium to the issue price.

“The issue received tepid response from investors due to higher valuations of the public offer. Rest of the damage was done by profit booking trigger after the Indian-Canada row. However, the way primary market has been performing these days, I still believe that the issue will list above its upper price band despite weak sentiments on Dalal Street," said Avinash Gorakshkar, Head of Research at Profitmart Securities.

However, the company is in fintech business and it is a profitable company. Hence, Gorakshkar believes long term investors can hold the stock after listing. The SaaS-based fintech platform raised ₹563.38 crore from the public issue.

The Zaggle IPO price band was ₹156-164 per share. Zaggle IPO comprised a fresh issue of shares worth ₹392 crore and an offer-for-sale (OFS) of 1.04 crore shares worth ₹171.38 crore by selling shareholders, including promoters. Zaggle IPO GMP today, or grey market premium today, is ₹11, according to market observers.

This indicates Zaggle Prepaid Ocean Services shares are trading higher by ₹11 than their issue price, in the grey market today. This means, grey market is expecting that Zaggle IPO listing price would be around ₹175 per share ( ₹164 + ₹11), which is at a premium of 6.7% to the issue price. Catch Live Market Updates here Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.Get the