Zaggle Prepaid Ocean Services Limited IPO
Basic information about the company: Zaggle Prepaid Ocean Services Limited, established in 2011, specializes in providing financial technology (fintech) solutions to streamline corporate business expenses using automated and innovative processes. Their fintech and Software as a Service (SaaS) offerings cater to various industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and the automobile sector. The primary focus areas of their SaaS platform are:
(i) Business Spend Management: This includes tools for managing expenses and vendor relationships efficiently.
(ii) Rewards and Incentives Management: They provide solutions to handle employee and channel partner rewards and incentives effectively.
(iii) Gift Card Management: Their Customer Engagement Management System (CEMS) assists merchants in managing gift card programs.
Some of Zaggle Prepaid Ocean Services' notable clients include TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP Sanjiv Goenka Group), Hiranandani Group, Cotiviti, Greenply Industries, among others. Objectives of the Issue The company's IPO aims to raise funds for the following purposes:
Customer Acquisition and Retention: They plan to allocate a portion of the net proceeds to acquire and retain customers, enhancing their market presence.
Technology and Product Development: Zaggle Prepaid Ocean Services intends to invest in developing new technologies and products to stay competitive and meet evolving market demands.
Debt Repayment: Some funds raised will be used to repay or pre-pay certain borrowings, reducing their debt burden.
General Corporate Purposes: The remaining funds will be utilized for general corporate needs, which may include day-to-day operational expenses and strategic initiatives.
Zaggle Prepaid Ocean Services IPO Details: For investors interested in participating in the IPO, the IPO details are as follows:
Dates: 14 to 18 Sept 2023
Price Band: 156 to 164
Lot Size: 90 shares
Total Issue Size: 563 Crs
Retail Quota: 10%
Allotment Date: 22/23 Sept
Listing Date: 27th Sept GMP: +8% (only for information) Link for checking IPO Allotment Status👇 https://evault.kfintech.com/ipostatus/ 💰Join our WhatsApp Group for Trading/Investment ideas & Market Updates👇
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