Zaggle Prepaid IPO: Issue subscribed 11% on day 1 so far, retail portion booked 53%

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IPO subscription status: Zaggle Prepaid IPO has been subscribed 11% on day 1 so far. Zaggle Prepaid IPO has opened for subscription today (Thursday, September 14), and will close on Monday, September 18. Zaggle Prepaid IPO received overall tepid response from investors on day 1.

Zaggle IPO's retail investors portion was subscribed 53%, NII portion was subscribed 4%, and Qualified Institutional Buyers (QIB) did not receive any subscription so far. Zaggle Prepaid Ocean Services IPO has received bids for 21,12,030 shares against 1,93,26,761 shares on offer, at 13:42 IST, according to data from the BSE. Zaggle Prepaid IPO retail investors' portion received bids for 18,87,390 shares against 35,57,802 shares on offer for this segment.

Zaggle IPO's non-institutional investors' portion received bids for 2,24,640 shares against 53,36,703 on offer for this segment. Also Read: Zaggle Prepaid Ocean Services IPO opens today: GMP, review, other key details. Should you subscribe or not? Zaggle IPO is made up of fresh issue comprises of shares worth ₹392 crore and offer for sale (OFS) portion consists of 10,449,816 shares of ₹1, which aggregates to ₹171.38 crore sold by promoter selling shareholder Raj P Narayanam, Avinash Ramesh Godkhindi, and other selling shareholders .

Zaggle IPO total issue size is ₹563.38 crores. The company plans to use the net proceeds from the offering to fund customer acquisition and retention costs, product and technology development costs, general corporate expenses, and the repayment or prepayment of some borrowings that the company has taken out, in full or in part. ICICI Securities Limited, Equirus Capital Private Limited, IIFL Securities Limited and JM Financial Limited are the book running lead managers