BackZaggle Prepaid share price lists with 1.22% discount at ₹162 apiece on the BSE
Zaggle Prepaid 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.
PremiumZaggle Prepaid Ocean Services IPO: Zaggle Prepaid Ocean Services, the SaaS-based fintech platform, made a tepid debut on Dalal Street Friday. Zaggle Prepaid shares were listed at ₹162 apiece on the BSE, a discount of 1.22% to the issue price of ₹164 per share.
Zaggle Prepaid share price opened at ₹164 apiece on NSE.
Zaggle Prepaid IPO received strong response from investors during IPO subscription period from September 14 to September 18.
The public issue was subscribed 12.86 times in total. Zaggle IPO was subscribed 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.
The company raised ₹563.38 crore from the public issue. The IPO price band was fixed at ₹156-164 per share. The IPO lot size was 90 shares.
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 Prepaid Ocean Services provides financial technology (fintech) products and services to manage corporate business expenses through automated and innovative workflows.
Avinash Gorakshkar, Head of Research at Profitmart Securities said that the company is in the fintech business and it is a profitable company. Hence, long term investors can hold the stock after listing.
The company offers fintech and SaaS products and services to corporates in banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile industries.
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