Zaggle Prepaid IPO

Zaggle Prepaid Limited

₹14,040 /90 sharesMinimum Investment

Zaggle Prepaid IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE & NSE₹164.00₹164.00₹0.00 (0.00%)

Zaggle Prepaid IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
14 Sep ‘23 - 18 Sep ‘23₹14,04090₹156 - ₹164
Issue SizeIPO Doc
563.38Cr
RHP PDF

Subscription Status As on 18 Sep '23, 5:00 PM

  • Qualified Institutional Buyers
    16.73x
  • Non-Institutional Investor
    8.84x
  • Retail Individual Investor
    5.93x
  • Employees
    0.00x
  • Total
    12.57x

About Zaggle Prepaid

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).;
Parent Organisation
Zaggle Prepaid Limited
Founded
2011
Managing Director
Mr. Avinash Ramesh Godkhindi

Strengths & Risks

  • 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.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular156 - 164₹2 Lakh
High Networth Individual156 - 164₹2 - 5 Lakh
For Zaggle Prepaid IPO, eligible investors can apply as Regular.
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