{"id":109558,"date":"2023-09-11T13:28:23","date_gmt":"2023-09-11T07:58:23","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=109558"},"modified":"2023-09-11T13:28:28","modified_gmt":"2023-09-11T07:58:28","slug":"the-ipo-of-zaggle-prepaid-ocean-services-will-start-on-thursday","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/the-ipo-of-zaggle-prepaid-ocean-services-will-start-on-thursday\/","title":{"rendered":"The IPO of Zaggle Prepaid Ocean Services will start on Thursday"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3857911142\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>On Thursday the initial share sale of fintech player Zaggle Prepaid Ocean Services Ltd will open for public subscription.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-406843275\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>As per the red herring prospectus (RHP) submitted on Friday, the three-day initial public offering (IPO) will end on September 18, with the bidding for retail investors beginning on September 14 and for anchor investors on September 13.<\/p><p>After conducting a pre-IPO placement in two tranches in August and raising Rs 98 crore from the investors, Zaggle has reduced the amount of its fresh issue to Rs 392 crore from Rs 490 crore.<\/p><p>Accordingly, the size of the fresh issue is decreased to Rs 392 crore.<\/p><div class=\"trade-content_5\" id=\"trade-2698966484\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Further, the company also decreased its offer for sale (OFS) component from 1.05 crore equity shares to 1.04 crore shares after one of its selling shareholders exited the issue, according to the RHP.<\/p><p>As of right now, Raj P Narayanam and Avinash Ramesh Godkhindi, the promoters, have up to 1.04 crore equity shares in the OFS.<\/p><p>VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, Ventureast Trustee Company, Zuzu Software Services Pvt Ltd and Koteswara Rao Meduri are the other selling shareholders apart from the promoters.<\/p><p>The company plans to use Rs 300 crore of the net proceeds for client acquisition and retention, up to Rs 40 crore for product and technology development, and up to Rs 17.08 crore for the full or partial repayment of debt that the company has taken out.<\/p><p>Founded in 2011, the company operates in the B2B and B2C segments . It has created a market niche in the country by offering a combined solution for spend management through prepaid cards and employee management (through SaaS).<\/p><p>ICICI Securities Ltd, Equirus Capital Private Ltd, IIFL Securities Ltd and JM Financial Ltd are the book-running lead managers to the issue.<\/p><div class=\"trade-content-10\" id=\"trade-1983654383\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The equity shares of the company will be listed on the both BSE and NSE.<\/p><div class=\"trade-after-content\" id=\"trade-2331280983\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>On Thursday the initial share sale of fintech player Zaggle Prepaid Ocean Services Ltd will open for public subscription. As per the red herring prospectus (RHP) submitted on Friday, the three-day initial public offering (IPO) will end on September 18, with the bidding for retail investors beginning on September 14 and for anchor investors on [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":41220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-109558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The IPO of Zaggle Prepaid Ocean Services will start on Thursday - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"As per the red herring prospectus (RHP) submitted on Friday, the three-day initial public offering (IPO) will end on September 18, with the bidding for retail investors beginning on September 14 and for anchor investors on September 13.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/the-ipo-of-zaggle-prepaid-ocean-services-will-start-on-thursday\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The IPO of Zaggle Prepaid Ocean Services will start on Thursday\" \/>\n<meta property=\"og:description\" content=\"As per the red herring prospectus (RHP) submitted on Friday, the three-day initial public offering (IPO) will end on September 18, with the bidding for retail investors beginning on September 14 and for anchor investors on September 13.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/the-ipo-of-zaggle-prepaid-ocean-services-will-start-on-thursday\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-11T07:58:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-11T07:58:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/05\/IPO-12-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/the-ipo-of-zaggle-prepaid-ocean-services-will-start-on-thursday\/\",\"url\":\"https:\/\/tradebrains.in\/features\/the-ipo-of-zaggle-prepaid-ocean-services-will-start-on-thursday\/\",\"name\":\"The IPO of Zaggle Prepaid Ocean Services will start on Thursday - 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