Zaggle Prepaid Ocean Services IPO opens today: GMP, review, other key details. Should you subscribe or not?
₹156 to ₹164 per equity share of face value of ₹1 each. Zaggle IPO garnered ₹253.52 crore from 23 anchor investors at the upper price band of ₹164 per equity share. Zaggle IPO has reserved not more than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 10% of the offer is reserved for Retail Investors.
Zaggle IPO floor price is 156 times the face value and the cap price is 164 times the face value. As per the Red Herring Prospectus (RHP), the company does not have any listed industry peers in India or abroad. Zaggle provides cutting-edge financial solutions with the goal of empowering enterprises, startups, and SMEs.
For the fiscal year that ended on March 31, 2022, Zaggle reported total revenues of ₹371.66 crores. Its assets were worth ₹234.76 crores as of March 31, 2023, while its revenue was ₹554.58 crores. The net worth increased to ₹48.75 crores due to the profit after taxes of ₹22.90 crores, which was supported by reserves and a surplus of ₹39.36 crores.
However, it's worth noting that the company's financial journey includes periods of losses, as indicated by the profit after tax of ₹338.59 crores as of March 31, 2023, according to reports. Also Read: Zaggle Prepaid Ocean Services IPO opens tomorrow; GMP, price band, dates and other details to know 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.
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