Zaggle IPO Listing News Highlights: Shares debut at IPO price of Rs 164
Zaggle IPO Listing News Highlights, Zaggle Prepaid share price NSE and BSE: Ahead of the listing, the company said that it mobilised Rs 253.52 crore from anchor investors.
Zaggle IPO Listing Date Today LIVE News, Zaggle Prepaid share price NSE and BSE: The shares of Zaggle Prepaid Ocean Services made a debut on the National Stock Exchange (NSE) at Rs 164, which is the same as its IPO price. The stable listing comes in a weak market and Zee Business Managing Editor Anil Singhvi had advised investors to subscribe to this IPO for long time gain.
Ahead of the listing, the company said that it mobilised Rs 253.52 crore from anchor investors.
For all the latest updates on the Zaggle Prepaid Ocean Services IPO listing, follow Zee Business' LIVE Blog:
Latest Updates
Zaggle Prepaid IPO Listing LIVE News: Shares list at a premium of 1.65%
Share of Zaggle Prepaid listed on the National Stock Exchange at a premium of 1.65 per cent.
Zaggle Prepaid IPO Listing LIVE News: Zaggle Prepaid in Pre-Open session
Zaggle Prepaid IPO Listing LIVE News: Price settles at 1.22% discount to issue price in pre-open market
In the pre-opening session, Zaggle Prepaid Ocean Services shares settled at Rs 162 on the NSE, a discount of 1.22 per cent to the issue price of Rs 164.
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Zaggle Prepaid IPO Listing LIVE News: Backed by Goldman Sachs, others
Zaggle is now backed by several marquee investors such as Morgan Stanley, Societe Generale, Goldman Sachs, Matthews Asia Funds, Copthall Mauritius Investment, Sunil Singhania's Abakkus, Ashish Kacholia, and Madhu Kela.
Zaggle Prepaid IPO Listing LIVE News: Zaggle Prepaid to list on BSE, NSE
Equity shares of Zaggle Prepaid will be listed on the BSE and the NSE. ICICI Securities, Equirus Capital, IIFL Securities and JM Financial were the managers to the offer.
Zaggle Prepaid IPO Listing LIVE News: What does the company do?
Founded in 2011, the company has created a market niche in the country by offering a combined solution for spend management through prepaid cards and employee management (through SaaS), the firm said.
Zaggle Prepaid IPO Listing LIVE News: Company earned Rs 23 crore in net income in FY 23
The topline jumped to Rs 550 crore in FY23 from which it earned Rs 23 crore in net income as it had incurred Rs 14.5 crore additional expenses on employee stock option plan, Avinash Ramesh Godkhindi told PTI, adding two-thirds of its revenue come from external commercial channels and the rest from employee channels.
Zaggle Prepaid IPO Listing LIVE News: Company to use net proceeds on expenditure towards customer acquisition
The company proposes to utilise Rs 300 crore of the net proceeds on expenditure towards customer acquisition and retention, up to Rs 40 crore on expenditure for the development of technology and products, and up to Rs 17.08 crore to pare down, in full or in part, debt availed of by the firm.
Zaggle Prepaid IPO Listing LIVE News: Mobilised Rs 253.52 crore from anchor investors
Ahead of the listing of the IPO, Zaggle Prepaid Ocean Services on Wednesday said it mobilised Rs 253.52 crore from anchor investors.
Zaggle Prepaid IPO Listing LIVE News: Where to check allotment status?
Those who subscribed for Zaggle Prepaid IPO can check the status of their application online on the official website of BSE. They can also visit the website of the issue registrar i.e. KFintech.
Zaggle Prepaid IPO Listing LIVE News: Listing Preview
Zee Business Managing Editor Anil Singhvi advised high-risk investors to apply for long-term gain. He said that short-term investors can keep stop loss at the issue price of Rs 164.
Zaggle Prepaid IPO Listing LIVE News: Listing Preview
The shares of Zaggle Prepaid are expected to list in the price range of Rs 170-175 against the issue price of Rs 164 per share.
Zaggle Prepaid IPO Listing LIVE News: 1,93,26,761 shares were on offer
According to data available with the NSE, the initial share sale got bids for 24,28,83,090 shares against 1,93,26,761 shares on offer.
Zaggle Prepaid IPO Listing LIVE News: IPO subscribed 12.57 times
The Initial Public Offering (IPO) of Zaggle Prepaid Ocean Services Ltd was subscribed 12.57 times on the last day of subscription on Monday.
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