Zaggle Prepaid IPO
Zaggle Prepaid Limited
₹14,040 /90 sharesMinimum Investment
Zaggle Prepaid IPO Details
Bidding Dates | Min. Investment | Lot Size | Price Range |
---|
14 Sep ‘23 - 18 Sep ‘23 | ₹14,040 | 90 | ₹156 - ₹164 |
Issue Size | IPO Doc |
---|
563.38Cr | |
Qualified Institutional Buyers | 16.73x |
Non-Institutional Investor | 8.84x |
Retail Individual Investor | 5.93x |
Employees | 0.00x |
Total | 12.57x |
Incorporated in 2011, Zaggle Prepaid offers various fintech products and services. Their portfolio includes SaaS offerings like tax and payroll software, along with an extensive touchpoint network. Their core products include Propel, Save, CEMS, Zaggle Payroll Card, and Zoyer.
The company serves a wide range of corporate customers, spanning industries such as banking, finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobiles.
They strategically sit at the crossroads of the SaaS and fintech sectors. Their SaaS platform caters to business spend management, including expense and vendor management, rewards and incentives for employees and partners, and merchant gift card management, referred to as the customer engagement management system (CEMS).;
Managing director
Mr. Avinash Ramesh Godkhindi
Parent organisation
Zaggle Prepaid Limited
Strengths & Financials of Zaggle Prepaid
Zaggle Prepaid witnessed substantial growth in its revenue over the years. In 2023, the company's revenue from operations reached Rs 553.46 cr, marking a significant increase of 49.08% compared to Rs. 371.25 cr in 2022.
Over the 3-year period from 2021 to 2023, the company experienced consistent growth, achieving a CAGR of 51.87%.
The company's user base also expanded significantly, surging by 151.37% from 904,713 users as of March 31, 2021, to 2,274,138 users as of March 31, 2023.
The company has a diverse customer base, serving prominent brands across various industry sectors. These include Persistent Systems, Hiranandani Realtors, Vitech, PCBL, Cotiviti, Tata Steel, AON, Greenply, and Pitney Bowes.
The company has established strategic partnerships with payment networks such as Visa and other fintech companies like Razorpay to enhance its fintech capabilities. It has successfully issued over 50 million prepaid cards in collaboration with its preferred banking partners. These cards are accepted both online and offline wherever Visa cards are used in India.
Zaggle Prepaid relies on its banking partners. Any loss of these partnerships or changes in interchange fees due to various factors could harm its business and financial condition.
Dependence on third-party payment networks, channel partners, and providers is critical to the company's business. Failing to maintain these relationships could negatively impact its business operations.
Successful integration of the company's products with other software applications is essential for user adoption. Failure in this integration could adversely affect the company's business.
In 2023, the company experienced negative operating cash flows amounting to Rs. Rs. 15.62 crores, primarily due to its trade receivables.
As of March 31, 2023, the company had outstanding borrowings of Rs. 90.03 crores, including various types of loans from ICICI Bank and funding raised through NCDs.
The company has certain contingent liabilities that could negatively affect its financial condition and cash flows if they materialize.
The company is involved in legal proceedings, and unfavorable outcomes in these cases could harm its reputation, business, cash flows, and financial condition.
Zaggle Prepaid Financials
*All values are in Rs. Cr
Application Details of Zaggle Prepaid IPO
Apply as | Price band | Apply Range |
---|
Regular | ₹156 - 164 | Upto ₹2 Lakh |
High Networth Individual | ₹156 - 164 | ₹2 - 5 Lakh |
For Zaggle Prepaid IPO, eligible investors can apply as Regular.