Zaggle Prepaid Ocean Services Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Zaggle Prepaid

CMP

295.85

+6.70 (2.32%)

  • DRHP
₹164

Offer Price

₹ 563.38 Cr

Issue Size

₹ 14,760

Min Investment

12.57x

Times Subscribed

90

Lot size

Time Line

  • 14
    Sep 2023
    Open
  • 18
    Sep 2023
    Close
  • 22
    Sep 2023
    Finalisation of Basis of Allotment
  • 25
    Sep 2023
    Initiation of Refunds
  • 26
    Sep 2023
    Transfer of Shares to Demat Account
  • 22
    Sep 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Continue to increase its Customer base of corporate accounts, SMB accounts, start-ups and merchants.

  • Continue to scale and expand by increasing user penetration and cross selling within its existing Customer base.

  • Continue to innovate to introduce new products and use cases.

  • Leverage strategic partnerships with financial institutions and merchants.

  • Pursue selective strategic acquisitions and investments to grow its business.

Strengths

  • Differentiated SaaS-based fintech platform, offering a combination of payment instruments, mobile application and API integrations;

  • In-house developed technology and strong network effect;

  • Business model with diverse sources of revenue and low customer acquisition and retention costs;

  • Diversified customer relationships across sectors along with preferred banking and merchant partnerships; and

  • Seasoned management team with deep domain expertise supported by a professional workforce.

Risks

  • The company recent revenue growth rates may not be indicative of its future financial performance. The company has limited operating history at its current scale. Failure to effectively manage the company growth could materially and adversely affect the success of its business and/or impact the company margins.

  • Laws and regulation governing its business and operations may continue to change and evolve and the introduction of new laws and regulation applicable to the company business may adversely affect its financial condition, results of operations and profitability.

  • The company may be unable to retain existing Customers, attract new Customers, convert Customers using its beta or trial versions into paying Customers, or expand usage of the company products within or across Customer organizations.

  • The company is dependent on third-party payment networks to operate its prepaid card business.

  • A substantial portion of its revenue is generated by Program Fees through the company arrangements with its banking partners. The businesses of its banking partners are regulated by the RBI and any change in the RBI`s policies, decisions and regulatory framework could adversely affect its business, cash flows, results of operations and financial condition.

Company Promoters

Promoters Holding

Issue For IPO
57.91%
Pre Holding

57.91%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2023 Mar-2023 Mar-2023 3-Yr trend
Revenue 142.49 (-) 22.90 (-) 553.46 (-)
Gross Profit 142.49 (-) 22.90 (-) 553.46 (-)
Net Income 142.49 (-) 22.90 (-) 553.46 (-)
Assets 142.49 (-) 22.90 (-) 553.46 (-)
Liabilities 142.49 (-) 22.90 (-) 553.46 (-)

Book Running Managers

  • ICICI Securities Ltd
  • Equirus Capital Pvt Ltd
  • IIFL Securities Ltd
  • JM Financial Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

301 III Floor CSR Estate Plot,
No.8 Sector 1 HUDA Techno Enc.,
Hyderabad - 500081
Phone : 91-40-23119049 Email : haripriya.singh@zaggle.in www.zaggle.in

Offer Related Information

Initial public offer of 34,352,255* equity shares bearing face value of Re. 1 each ("Equity Shares") of Zaggle Prepaid Ocean Services Limited (The "Company" or the "Company" or the "Issuer") for cash at a price of Rs. 164 per equity share (including a premium of Rs. 163 per equity share) (the "Offer Price") aggregating to Rs. 563.38* crores (the "Offer") comprising a fresh issue of 23,902,439* equity shares by the company aggregating to Rs. 392.00* crores (the "Fresh Issue") and an offer... More

News

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