Zaggle Prepaid Ocean Services Ltd. IPO

Zaggle Prepaid Ocean Services, founded in 2011, is a prominent Indian fintech company. They specialize in prepaid cards, SaaS solutions for spend management, and customer engagement systems. With a wide customer base across various industries, they're a key player in India's fintech sector, focusing on cross-selling and ecosystem-based strategies for growth and customer retention.

Zaggle Prepaid Ocean Services Ltd. IPO Details

Check out the issue details for Zaggle Prepaid Ocean Services Ltd. IPO as disclosed in SEBI.

IPO Price

₹ 164

Price Band

₹ 156 - 164

Issue Size

563.38 Cr.

Issue Type

Book Built

Open

2023-09-14

Close

2023-09-18

Listingprice

₹ 164

ListingGain

0.00%

Listing Date

2023-09-22

CMP

₹ 369

Current Return

125.00%

Zaggle Prepaid Ocean Services Ltd. News

Zaggle Prepaid Ocean Services informs about update11 Sep 2025, 1:09PM Zaggle Prepaid Ocean Services inks pact with Pernod Ricard India5 Sep 2025, 5:59PM Zaggle partners with Standard Chartered Bank 4 Sep 2025, 2:22PM Zaggle Prepaid Ocean Services inks pact with Suryoday Small Finance Bank1 Sep 2025, 6:02PM Zaggle Prepaid Ocean Services enters into agreement with Standard Chartered Bank28 Aug 2025, 10:06AM Zaggle Prepaid Ocean Services reports 56% jump in Q1 consolidated net profit18 Aug 2025, 2:38PM Zaggle Prepaid Ocean - Quaterly Results14 Aug 2025, 4:05PM Zaggle Prepaid Ocean - Quaterly Results14 Aug 2025, 4:05PM Zaggle Prepaid Ocean - Quaterly Results14 Aug 2025, 4:05PM Zaggle Prepaid Ocean Services to acquire 100% shares capital in Rivpe Technology30 Jul 2025, 10:23AM Zaggle Prepaid Ocean Services inks pact with Narayana Hrudayalaya18 Jul 2025, 3:19PM Zaggle Prepaid Ocean Services informs about compliance certificate9 Jul 2025, 2:18PM Zaggle Prepaid Ocean Services informs about disclosure 4 Jul 2025, 11:22AM Zaggle Prepaid Ocean Services inks pact with Apollo Health and Lifestyle, subsidiaries 4 Jul 2025, 9:27AM Zaggle Prepaid Ocean Services inks pact with DTDC Express2 Jul 2025, 9:16AM Zaggle Prepaid Ocean Services to acquire 100% share capital in Greenedge Enterprises6 Jun 2025, 10:42AM Zaggle Prepaid Ocean Services to acquire 100% share capital in Dice Enterprises5 Jun 2025, 4:30PM Zaggle inks pact with White Oak Investment Management20 May 2025, 12:00PM Zaggle Prepaid Ocean Services partners with Mesh Payments16 May 2025, 11:42AM Zaggle Prepaid Ocean Services informs about board meeting 12 May 2025, 5:36PM

Company Financials

You can get the following financial statements of Zaggle Prepaid Ocean Services Ltd. as of now.

The details about the Zaggle Prepaid Ocean Services IPO is as:

  • The issue size of the IPO is 563.38 Cr.
  • The price band for Zaggle Prepaid Ocean Services IPO is Rs 156 to Rs 164.
  • The shares of Zaggle Prepaid Ocean Services IPO will list on 22nd September 2023.
  • The latest tentative GMP of Zaggle Prepaid Ocean Services IPO is Rs 15.
  • The shares of Zaggle Prepaid Ocean Services IPO is subscribed 12.86 Times as of 18 September 2023.

 

Zaggle Prepaid Ocean Services IPO Valuation

The approx valuation of Zaggle Prepaid Ocean Services IPO company based on its price band and DRHP (prospectus) is: 

Particulars Value
Upper Price Band Rs 164
Existing Shares (Qty) 9.81 Cr
Fresh Issue 392 Cr
Market Cap 2000.84 Cr
EPS (FY23) Rs 2.48
PE Ratio 66.12x

 

Zaggle Prepaid Ocean Services IPO Issue Size

Zaggle Prepaid Ocean Services IPO issue size is 563.38 Cr. 

Issue Amount
Fresh Issue 392 Cr
Offer For Sale 171.38 Cr

  

Zaggle Prepaid Ocean Services IPO Market Lot

An Individual can apply for a minimum 1 lot of 90 shares and a maximum of 13 lots of 1170 shares. Find the details below:

Application Lot Shares Amount
 Minimum  1 90 Rs 14,760
 Maximum 13 1170 Rs 1,91,880

 

Zaggle Prepaid Ocean Services IPO share offer

The shares of Zaggle Prepaid Ocean Services IPO is subscribed 12.86 Times as of 18 September 2023. The category-wise shares subscribed are as follows:

Category % Offered Subscribed
Qualified Institutional Minimum 75% 16.94 Times
Non-Institutional Maximum 15% 9.16 Times
Retail Individual Maximum 10% 6.15 Times
Total   12.86 Times

 

Find below the dates for Zaggle Prepaid Ocean Services IPO:

Schedule Date
Basis of Allotment 22 September 2023
Refunds 25 September 2023
Credit to Demat Account 26 September 2023
IPO Listing Date 27 September 2023

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Net Sales 239.97 371.26 553.46 775.6 1302.65
Total Expenditure 212.34 311.32 506.94 704.95 1187.36
Operating Profit 27.63 59.94 46.52 70.65 115.29
Other Income 0.33 0.41 2.74 11.27 24.51
Interest 7.71 7.07 11.42 13.78 7.69
Depreciation 2.05 2.1 6.2 8.36 14.69
Exceptional Items 0 0 0 0 0
Profit Before Tax 18.2 51.18 31.64 59.78 117.42
Provision for Tax -1.13 9.26 8.73 15.76 29.94
Net Profit 19.33 41.92 22.9 44.02 87.48
Adjusted EPS (Rs.) 0.21 0.46 0.25 0.36 0.65

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity and Liabilities
Share Capital 0.18 0.18 9.22 12.25 13.42
Total Reserves -45.73 -3.74 39.53 563.13 1234.19
Borrowings 37.69 48.33 51.33 15.47 0
Other N/C liabilities -6.93 3.37 15.78 7.64 9.31
Current liabilities 66.18 42.06 121.49 94.88 50.82
Total Liabilities 51.39 90.19 237.35 693.38 1307.74
Assets
Net Block 7.32 11.92 28.91 22.6 104.18
Capital WIP 0 0 0 0 0
Intangible WIP 0 1.5 10.87 49.86 22.02
Investments 0 0 0.49 25.98 81.58
Loans & Advances 7.88 15.23 17.43 8.43 47.24
Other N/C Assets 0 0 0 0 0
Current Assets 36.19 61.55 179.66 586.5 1052.73
Total Assets 51.39 90.19 237.35 693.38 1307.74
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
Other Income 4.52 3.74 3.53 12.73 11.71
Profit Before Tax 22.76 25.79 26.76 42.11 34.56
Tax 6.04 7.23 6.53 10.15 8.68
Profit After Tax 16.72 18.56 20.24 31.96 25.88
Adjusted EPS (Rs) 1.37 1.51 1.51 2.38 1.93

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Jun 2025 44.2 0
Mar 2025 44.21 0
Dec 2024 40.09 0
Sep 2024 43.88 0
Jun 2024 43.93 0
* Figures given above are % of equity capital

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Profit from operations 18.2 51.18 31.64 59.78 117.42
Adjustment 10.09 10.3 29.72 26.38 7.41
Changes in Assets & Liabilities -21.46 -35.41 -73.62 -159.72 -77.59
Tax Paid -3.41 -5.99 -3.36 -9.19 -27.39
Operating Cash Flow 3.41 20.08 -15.62 -82.75 19.85
Investing Cash Flow -1.01 -9.87 -18.15 -331.89 -486.14
Financing Cash Flow -5.68 -12.29 52.64 402.99 496.34
Net Cash Flow -3.28 -2.08 18.88 -11.65 30.05
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