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Zaggle Prepaid Ocean IPO

Zaggle Prepaid Ocean Services, a 2011 incorporation, offers financial technology (fintech) goods and services to control business expenses for corporations through automated processes. The company has relationships with companies like TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP – Sanjiv Goenka Group), Hiranandani group, Cotiviti, and Greenply Industries. Its network of corporate customers spans the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile industries, among others

At the nexus of the SaaS and fintech ecosystems, Zaggle Prepaid Ocean Services’ SaaS platform is made for: (i) business expenditure management (including cost management and vendor management): administration of incentives and awards for staff members and channel partners; administration of gift cards; 

As of 31 March 2023, the company has 1,832 corporate accounts and 579 SMB accounts. As of 31 March 2023, 2022, and 2021, the average user base per business was 943, 983, and 828 Users, respectively. As of 31 March 2023, it has issued 10.83 million active cards to 2,411 customers across India.

Zaggle Prepaid Ocean IPO Details

Signature Global IPO Details
Zaggle IPO Dates
14 – 18 September 2023
Zaggle IPO Price
INR 156 – 164 per share
Fresh issue
INR 392 crore
Offer For Sale
10,449,816 shares INR 163.02 – 171.38 crore
Total IPO Size
INR 555.02 – 563.38 crore
Minimum bid (size)
90 shares INR 14,760
Face Value
INR 1 per share
Retail Allocation
10%
Listing On
BSE, NSE

Zaggle Prepaid Ocean Services Financial Performance

Signature Global Financial Performance

FY21

FY22

FY23

Revenue

239.97

371.26

553.46

Expenses

223.0

320.49

522.94

Net income

19.33

41.92

22.90

Margin (%)

8.06

11.29

4.14

Figures in INR Crore unless specified otherwise

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