Zaggle Prepaid Ocean Services IPO this Week: GMP, Price, Dates & Other Details
Zaggle Prepaid Ocean Services is all set to launch its Initial Public Offering (IPO) this week, creating significant buzz in the financial world. If you’re considering investing or just curious about this IPO, here’s everything you need to know, from key dates to pricing details.
Zaggle Prepaid Ocean Services IPO Key Dates:
- Subscription Opening Date: Thursday, September 14
- Subscription Closing Date: Monday, September 18
- Anchor Investor Allocation: Wednesday, September 13
Zaggle Prepaid Ocean Services IPO Dates:
The pricing of the Zaggle IPO is garnering attention. The price band for the IPO is set at ₹156 to ₹164 per equity share, each having a face value of ₹1. Investors will have the opportunity to subscribe in lots of 90 equity shares, with multiples available thereafter. The floor price for the Zaggle IPO is 156 times the face value, while the cap price is 164 times the face value.
Zaggle Prepaid Ocean Services IPO in Numbers:
The IPO consists of a fresh issue comprising shares worth ₹392 crore and an offer for sale (OFS) portion, which includes 10,449,816 shares of ₹1 each, totaling ₹171.38 crore. The selling shareholders in the offer for sale include Raj P Narayanam, Avinash Ramesh Godkhindi, and other stakeholders. The overall issue size for the Zaggle IPO stands at ₹563.38 crores.
Zaggle Prepaid Ocean Services IPO Promoter Equity Shares:
The Red Herring Prospectus (RHP) lists the following equity shares:
- Raj P Narayanam: Up to 1,529,677 equity shares
- Avinash Ramesh Godkhindi: Up to 1,529,677 equity shares
- VenturEast Proactive Fund LLC: Up to 2,830,499 equity shares
- GKFF Ventures: Up to 2,046,026 equity shares
- VenturEast SEDCO Proactive Fund LLC: Up to 538,557 equity shares
- Ventureast Trustee Company Private Ltd: Up to 118,040 equity shares
- Zuzu Software Services Private Ltd: Up to 1,765,540 equity shares
- Koteswara Rao Meduri: Up to 91,800 equity shares
Zaggle Prepaid Ocean Services IPO Utilization of Proceeds:
The company intends to utilize the net proceeds from the IPO for various purposes, including customer acquisition and retention costs, product and technology development expenses, general corporate expenditures, and the repayment or prepayment of some of its borrowings.
Zaggle Prepaid Ocean Services IPO Investor Categories:
For this IPO, Zaggle has allocated not more than 75% of the shares to Qualified Institutional Buyers (QIBs), at least 15% to Non-Institutional Investors (NIIs), and a minimum of 10% for Retail Investors.
Zaggle Prepaid Ocean Services IPO Timeline:
- Basis of Allotment Finalization: Friday, September 22
- Refunds Initiation: Monday, September 25
- Demat Account Crediting: Tuesday, September 26
- Expected Listing on BSE and NSE: Wednesday, September 27
Zaggle Prepaid Ocean Services IPO GMP:
As of the latest information, the Grey Market Premium (GMP) for Zaggle IPO stands at ₹0, indicating that shares are trading at their issue price of ₹164 with no premium or discount in the grey market, according to topsharebrokers.com.
About Zaggle Prepaid Ocean Services:
Zaggle Prepaid Ocean Services Limited offers financial technology (fintech) products and services that enable businesses to manage corporate expenses more efficiently. With innovative and automated workflows, they aim to streamline financial processes.
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