-- / 90 shares
Zaggle Prepaid Ocean Services IPO Details
Issue Date
--
Investment/lot
--
Price Range
₹164
Lot Size
90
IPO Size
₹563.38 Cr
Zaggle Prepaid Ocean Services IPO Listing Details
Listing On
22 Sep'23
Issue Price
--
Listed Price
₹ 164
Retail Gain/Listing Gain
▲0.00%
Schedule of Zaggle Prepaid Ocean Services IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
22/09/2023
Company Background
Zaggel Prepaid Ocean Services Ltd. was incorporated in 2011 and interacts with businesses and end users (i.e., employees). The company is among a small number of uniquely positioned players with a diversified offering of fintech products and services, having one of the largest number of issued prepaid cards in India. It has partnered with certain banking partners (constituting approximately 16% of India’s total prepaid transaction volume, as of 31st March 2023), and offers a diversified portfolio of SaaS, including tax and payroll software, and a wide touchpoint reach (Source: Frost & Sullivan Report).
The company is placed at the intersection of the SaaS and fintech ecosystems, with their SaaS platform designed for (i) business spend management (including expense management and vendor management); (ii) rewards and incentives management for employees and channel partners; and (iii) gift card management for merchants, which is referred to as customer engagement management system (CEMS).
With more than 50 million prepaid cards issued in partnership with banking partners and more than 2.27 million users served, as of 31st March 2023, the company stands as a leading player in spend management, offering a differentiated value proposition and diversified user base (Source: Frost & Sullivan Report).
Their network of corporate customers covers the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobile industries, among others, where the company has established relationships with brands such as TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP – Sanjiv Goenka Group), Hiranandani group, Cotiviti and Greenply Industries.
Risk Factors
- With a limited operating history at the current scale, the recent revenue growth rates may not be indicative of future financial performance.
- The termination or failure to maintain relationships with banking partners, or changes to interchange fees due to various factors could harm business operations.
- The company is dependent on third-party payment networks, channel partners and third-party providers for various aspects of the business and growth.
Key Strategies
Here are a few strategies Zaggel Prepaid Ocean Services Limited has for its business:
- Continue to increase the customer base of corporate accounts, SMB accounts, start-ups and merchants.
- Continue to scale and expand by increasing user penetration and cross-selling within the existing customer base.
- Continue to innovate and introduce new products and use cases.
Key Financials
And finally here’s a look at key financials of Zaggel Prepaid Ocean Services Limited.
How to apply for IPO through ASBA
Kotak Securities
•00m 59s
How to apply for an IPO using UPI
Kotak Securities
•01m 19s
Zaggle Prepaid Ocean Services IPO FAQs
When is Zaggle Prepaid Ocean Services IPO listing date?
Zaggle Prepaid Ocean Services will list on 2023-09-22.
What is the issue size of Zaggle Prepaid Ocean Services IPO?
₹563.38 Cr is the issue size of Zaggle Prepaid Ocean Services IPO.
What is the price band of the Zaggle Prepaid Ocean Services IPO?
The price band of Zaggle Prepaid Ocean Services IPO is ₹164 to ₹0.
What is Zaggel Prepaid Ocean Services Limited IPO?
The Zaggel Prepaid Ocean Services Limited IPO has an issue size of Rs. 563.38 crores. The IPO opens for subscription on 14th September and closes on 18th September 2023.
Who is the Registrar of Zaggel Prepaid Ocean Services Limited IPO?
KFin Technologies Limited is the registrar for this IPO.
Where can I read more about Zaggel Prepaid Ocean Services Limited business?
You may read more about Zaggel Prepaid Ocean Services Limited and its IPO from the company’s red herring prospectus (RHP) here: Zaggel Prepaid Ocean Services Limited RHP.