Zaggle Prepaid Ocean IPO: Price Band, Subscription Dates, and More

Have you heard of Zaggle Prepaid Ocean? It’s a prepaid card issued that is going public on Sept 14. Read this article to know more about this IPO.

Zaggle's Prepaid Ocean ipo

If you are a fan of FinTech, you might want to keep an eye on Zaggle Prepaid Ocean Services. The company, offering financial technology products and services for automated corporate expense management, is launching its much awaited IPO on Thursday. The subscription will be open till September 16 and the shares will be listed on exchanges on September 27. In this article, we will tell you everything you need to know about Zaggle Prepaid Ocean Services and why its IPO is worth considering. 


  • FinTech and SaaS company

  • Net sales grew 448% in two years

  • Price band between Rs 156-164

  • Listing on exchanges on Sept 27

Also ReadWhy is it so easy to get a personal loan through a FinTech company?

Investors can benefit from Zaggle Prepaid’s impressive growth, wide customer base, diversified product portfolio and strong market presence. The IPO is reasonably priced and will fund the company’s expansion, innovation and debt repayment. However, investors should also consider the risks associated with the IPO, such as competition from other FinTech and SaaS players, regulatory changes, cybersecurity threats, and data breaches.

About Zaggle Prepaid Ocean Services

This is a FinTech and SaaS company that helps corporates manage business expenses through automated workflows. It has seven offices, over 1,750 customers and 1.7 million end users in India. It serves various industries and has clients like Tata Steel, Wockhardt, Mazda, etc.

Financial Performance of Zaggle Prepaid

Zaggle Prepaid Ocean Services saw its net sales skyrocket from Rs. 68.33 crore in 2020 to Rs. 371.26 crore in 2022, representing a staggering growth of 448% in just two years!

Net profit and profit from operations also grew exponentially, reaching Rs. 41.92 crore and Rs. 51.18 crore, respectively, in 2022.

Features of the IPO listed below:

  • Fresh issue of shares worth Rs 392 crore

  • Offer-for-sale of 10.45 million shares by eight selling shareholders

  • Price band: Rs 156-164

  • Zaggle IPO reservation: 75% for QIBs, 15% for NIIs, and 10% for retail investors.

  • IPO proceeds to be used for:

    • Customer acquisition and retention: Rs 300 crore

    • Development of technology and products: Rs 40 crore

    • Repayment of debt: Rs 17.08 crore

    • General corporate purposes: Remainder

  • Finalisation of basis of allotment: September 22

  • Initiation of refunds: September 25

  • Listing on exchanges: September 27

  • As of March 2023, its total outstanding borrowings were Rs 90.03 crore.

  • ICICI Securities, Equirus Capital, IIFL Securities, and JM Financial are the merchant bankers to the issue, while KFin Technologies is the registrar.

Also ReadQuality FinTech stocks you can invest in 2023 for a long-term period for great returns

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or tax advice.

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