Fintech / Spend Management - Listed on 22 September 2023
Zaggle Prepaid Ocean Services (Fintech / Spend Management) closed its IPO window in 2023 and listed on NSE and BSE on 22 September 2023 at an upper band issue price of Rs 164, opening at Rs 164 for a listing gain of 0.0% and closing day one at Rs 158.4 (-3.4% on closing basis). The IPO was subscribed 12.55x overall - QIB 16.73x, HNI/NII 8.83x, Retail 5.87x. The total issue size was Rs 563.38 Cr (Fresh Issue Rs 392 Cr, OFS Rs 171.38 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Fintech / Spend Management
Zaggle Prepaid Ocean Services operates in the Fintech / Spend Management space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Zaggle Prepaid Ocean Services issue was offered at an upper price of Rs 164 and raised approximately Rs 563.38 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 10 | +6.10% |
| Day 2 | Rs 10 | +6.10% |
| Day 3 | Rs 20 | +12.20% |
| Day 4 | Rs 25 | +15.24% |
| Day 5 | Rs 20 | +12.20% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Zaggle Prepaid Ocean Services IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Zaggle Prepaid Ocean Services IPO listed at 0.0% versus the upper issue price of Rs 164 on 22 September 2023.
Zaggle Prepaid Ocean Services IPO was subscribed 12.55x overall. QIB portion was subscribed 16.73x, HNI / NII 8.83x and Retail 5.87x.
IPO GMP started at Rs 10 on Day 1 and moved to Rs 20 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.