- POSITIVE
Annual Revenue Zaggle Prepaid Ocean Mar-2026 Annual Revenue is Rs 1,890 Cr which is growth of 42.4% YoY.
- POSITIVE
Annual Net Profit Zaggle Prepaid Ocean Mar-2026 Annual Net Profit is Rs 133 Cr which is growth of 51.9% YoY.
Zaggle Prepaid Ocean Services was incorporated on June 2, 2011. The company is a leading player in spend management, with more than 50 million prepaid cards issued in partnership with banking partners and more than 2.27 million users served, as of March 31, 2023. It offers a differentiated value proposition and has a diversified user base
| Bidding Dates |
|---|
| 14 Sep 2023 - 18 Sep 2023 |
| Subscription |
|---|
| 12.57x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,760 | 1 | 13 | 90 | 34.4 M | ₹156 - ₹164 | 71.86 % | ₹5,359.0 M - ₹5,633.8 M | RHP DOC |
Zaggle Prepaid Ocean IPO SUBSCRIPTION STATUS
18 Sep '23Total12.57x
Retail Individual Investor5.94x
HNI (NII) Investors8.85x
Qualified Institutional Buyers16.73x
Zaggle Prepaid Ocean IPO overall subscription rate was 12.57 times the total available shares
Zaggle Prepaid Ocean IPO retail subscription rate was 5.94 times in the retail segment
Zaggle Prepaid Ocean IPO non-institutional investor subscription rate was 8.85 times in the non-institutional investor category
Zaggle Prepaid Ocean IPO Qualified Institutional Bidder subscription rate was 16.73 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
18 Sep 2023 (Day 3) | 5.94x | 8.85x | 16.73x |
15 Sep 2023 (Day 2) | 1.9x | 0.29x | 0x |
14 Sep 2023 (Day 1) | 0.87x | 0.11x | 0x |
Zaggle Prepaid Ocean FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 229.0 | 5,534.6 | -156.2 | -317.9 | 8.7% |
| FY22 | 419.2 | 3,712.6 | 200.8 | 125.1 | 16.1% |
| FY21 | 193.3 | 2,399.7 | 34.1 | 24.3 | 11.5% |
Zaggle Prepaid Ocean IPO SUBSCRIPTION STATUS DETAILS
Zaggle Prepaid Ocean had 34.4 M shares on offer
Zaggle Prepaid Ocean IPO offer price was in the range ₹156 - ₹164
Zaggle Prepaid Ocean IPO minimum Investment was ₹14760
Zaggle Prepaid Ocean IPO issue size was ₹ 5,359.0 M - ₹ 5,633.8 M
Zaggle Prepaid Ocean had a minimum lot size of 90 Shares per application
Zaggle Prepaid Ocean NUMBER OF SHARES ON OFFER
Total34.4 M
Fresh Issue23.9 M
Offer for Sale10.4 M
Post Issue Promoter Holding %71.86 %
Zaggle Prepaid Ocean IPO IMPORTANT DATES
| Issue Open Date | 14 Sep 2023 |
| Issue close Date | 18 Sep 2023 |
| Allotment Date | 20 Sep 2023 |
| Refund Date | 20 Sep 2023 |
| Demat Account Credit Date | 21 Sep 2023 |
| Listing Date | 22 Sep 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Zaggle Prepaid Ocean Allotment Status | Exchange |
Zaggle Prepaid Ocean IPO subscription opened on 14 Sep 2023, and closed on 18 Sep 2023
IPO allotment for Zaggle Prepaid Ocean was finalized on Wednesday, 20 Sep 2023
IPO listing for Zaggle Prepaid Ocean was on NSE and BSE on Friday, 22 Sep 2023
Zaggle Prepaid Ocean IPO LISTING GAINS
| Issue Price (adjusted) | 164.0 |
| Listing Open Price | 164.0 |
| Listing Close Price | 158.3 |
| Listing Gain% | 0.0% |
| Current Gain% | -6.0% |
Zaggle Prepaid Ocean Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Zaggle Prepaid Ocean Services Ltd. | 154.2 | 1882.2 | 16 | 0.5 | 1 | 9.8 | 8.9 | 1945.6 | 46.2 | 138.1 | 57.1 | 9.6 | 33.1 |
| Tata Technologies Ltd. | 647.1 | 26275.6 | 46.7 | -2.5 | 4.2 | 13.9 | 6.1 | 5680.1 | 7.3 | 546.6 | -19.3 | 13.9 | -18.8 |
| RateGain Travel Technologies Ltd. | 799 | 9471.5 | 39.1 | 2.6 | 4.1 | 9.7 | 5.5 | 1884.9 | 63.5 | 194.4 | -7 | 20.4 | 15.1 |
| Shiprocket Ltd. | 126.1 | 9172.6 | -5.2 | -3.2 | 2077.4 | 24 | -79.2 | -6.4 | |||||
| Intellect Design Arena Ltd. | 504.6 | 7098.1 | 20 | -1.7 | 2.2 | 10.9 | 7.5 | 3160.8 | 22.7 | 345.4 | 3.8 | 25.2 | -11.8 |
| Capillary Technologies India Ltd. | 502.6 | 3999.7 | 95 | 4.9 | 5.1 | 4 | 748.3 | 22.3 | 52.4 | 294.5 | 5.3 |
Forecaster
Revenue Mix
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Zaggle Prepaid Ocean annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
Nested row level
Base Level
Reporting Type
Standalone
Cell Data
Actual
Table Settings
YoY & New to Old
CAGR Columns
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*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
42.4%
2Y CAGR
55%
3Y CAGR
50.5%
Net Profit Ann.
1Y CHG
51.9%
2Y CAGR
73.8%
3Y CAGR
79.7%
Operating Exp. Ann.
1Y CHG
40.8%
2Y CAGR
54%
3Y CAGR
49%
Zaggle Prepaid Ocean INFORMATION ON IPO ISSUE
About Zaggle Prepaid Ocean
Zaggle Prepaid Ocean Services was incorporated on June 2, 2011. The company is a leading player in spend management, with more than 50 million prepaid cards issued in partnership with banking partners and more than 2.27 million users served, as of March 31, 2023. It offers a differentiated value proposition and has a diversified user base
Object of the Issue
- Expenditure towards customer acquisition and retention
- Expenditure towards the development of technology and products
- Repayment/pre-payment of certain borrowings, in full or part, availed by the company
- General corporate purposes
Zaggle Prepaid Ocean - PROMOTERS
| Name |
|---|
| Raj P Narayanam |
| Avinash Ramesh Godkhindi |
Zaggle Prepaid Ocean Book Running Lead Managers
ICICI Securities Limited
zaggle.ipo@icicisecurities.com
Zaggle Prepaid Ocean Book Running Lead Manager
Equirus Capital Private Limited
zaggle.ipo@equirus.com
IIFL Securities Limited
zaggle.ipo@iiflcap.com
JM Financial Limited
zaggle.ipo@jmfl.com
Zaggle Prepaid Ocean Registrar to the Offer
KFinTechnologies Private Limited
zaggle.ipo@kfintech.com
Zaggle Prepaid Ocean Strengths
Differentiated fintech platform
The company has a differentiated SaaS-based fintech platform, offering a combination of payment instruments, mobile applications, and API integrations
Strength
Strong network effect
The company is uniquely positioned as a player offering diversified services within the fintech industry. It boasts one of the largest numbers of issued prepaid cards in partnership with certain banking partners, enjoys high profitability, maintains a diversified portfolio of SaaS services, and has an extensive touchpoint reach
Strength
Diverse model
The company follows a business model with diverse sources of revenue and benefits from low customer acquisition and retention costs
Strength
Zaggle Prepaid Ocean Risks
Limited operating history
The company's historical revenue growth rates may not necessarily reflect its future financial performance, primarily due to its limited operating history at its current scale. Failing to effectively manage this growth could have a material and adverse impact on the business
Risk
Highly competitive industry
The company operates in a highly competitive industry, and any inability to compete successfully within this competitive landscape could have a material and adverse impact on its business
Risk
Negative cash flows
The company has experienced negative operating cash flows in FY23 and has had negative net worth as of FY22 and FY21. These financial challenges may make it difficult or expensive for the company to obtain future financing or meet its liquidity needs
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 171.4 crore, of 10,449,816 shares. It also consists of a fresh issue of Rs 392.0 crore.
The promoters of the company are Raj P Narayanam and Avinash Ramesh Godkhindi.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 156.0 - 164.0.
The IPO application opens on Sep 14, 2023 and closes on Sep 18, 2023.
The minimum lot size for the IPO is 90. The maximum lot size for the IPO is 1170.
For all category investors, the minimum application amount for this IPO is Rs. 14,760.0, the maximum value for this IPO is Rs 191,880.0.
This IPO will be allotted on Sep 20, 2023.
The refund will be credited to your account on Sep 20, 2023.
The allotted shares will be credited to your demat on Sep 21, 2023.
Zaggle Prepaid Ocean Services Ltd.’s shares listed on the stock exchanges on Sep 22, 2023.