Zaggle IPO listing date today. GMP, experts signal positive debut despite weak market sentiments
- Zaggle Prepaid Ocean Services shares will list on BSE and NSE in special pre-open session at around 9:45 AM and it will become available for trade from 10:00 AM onwards on Friday, September 22.
Zaggle Prepaid Ocean Services IPO: Zaggle Prepaid Ocean Services is set to make its debut on Dalal Street as the shares will be listed on Indian stock market exchanges BSE and NSE today.
The initial public offering (IPO) of Zaggle Prepaid Ocean Services opened on September 14 and closed on September 18.
As per a circular on BSE website, “...effective from Friday, September 22, 2023, the equity shares of Zaggle Prepaid Ocean Services shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities.”
Zaggle IPO Listing Date and Time
Zaggle Prepaid Ocean Services shares will list on BSE and NSE in special pre-open session at around 9:45 AM and it will become available for trade from 10:00 AM onwards on Friday, September 22.
Zaggle IPO was subscribed 12.86 times in total. The IPO was booked 6.15 times in the retail category, 16.94 times in the Qualified Institutional Investors’ (QIB) category, and 9.16 times in the Non-Institutional Investors’ (NII) category.
Zaggle IPO Listing Price
Zaggle share listing is expected to be tepid on Friday. Analysts expect Zaggle shares listing price to be at around 5-7% premium to the issue price.
“The issue received tepid response from investors due to higher valuations of the public offer. Rest of the damage was done by profit booking trigger after the Indian-Canada row. However, the way primary market has been performing these days, I still believe that the issue will list above its upper price band despite weak sentiments on Dalal Street,” said Avinash Gorakshkar, Head of Research at Profitmart Securities.
However, the company is in fintech business and it is a profitable company. Hence, Gorakshkar believes long term investors can hold the stock after listing.
The SaaS-based fintech platform raised ₹563.38 crore from the public issue. The Zaggle IPO price band was ₹156-164 per share.
Zaggle IPO comprised a fresh issue of shares worth ₹392 crore and an offer-for-sale (OFS) of 1.04 crore shares worth ₹171.38 crore by selling shareholders, including promoters.
Zaggle IPO GMP today
Zaggle IPO GMP today, or grey market premium today, is ₹11, according to market observers. This indicates Zaggle Prepaid Ocean Services shares are trading higher by ₹11 than their issue price, in the grey market today.
This means, grey market is expecting that Zaggle IPO listing price would be around ₹175 per share ( ₹164 + ₹11), which is at a premium of 6.7% to the issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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