Zaggle Prepaid IPO: Zaggle IPO fully subscribed on day 3, retail portion sees huge demand

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IPO subscription status: Zaggle Prepaid IPO has been subscribed 1.18 times on day 3, so far. Zaggle Prepaid IPO has opened for subscription on Thursday, September 14, and will close today (Monday, September 18). Zaggle IPO's retail investors portion was subscribed 3.48 times, NII portion was subscribed 1.76 times, and Qualified Institutional Buyers (QIB) was subcribed 9%.

Also Read: Zaggle IPO now open: Check latest GMP, subscription status. Should you apply or not? Zaggle Prepaid Ocean Services IPO has received bids for 2,27,35,530 shares against 1,93,26,761 shares on offer, at 12:36 IST, according to data from the BSE. Zaggle Prepaid IPO retail investors' portion received bids for 1,23,91,290 shares against 35,57,802 shares on offer for this segment.

Zaggle IPO's non-institutional investors' portion received bids for 93,96,630 shares against 53,36,703 on offer for this segment. The QIB portion received bids for 9,47,610 shares against 1,04,32,256 shares on offer for this segment. Zaggle Prepaid Ocean Services IPO subscription status was 19% on day 1.

Also Read: Zaggle Prepaid IPO: Zaggle IPO subscribed 43% on day 2, retail portion oversubscribed 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