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

₹ 385

Current Return

134.76%

Zaggle Prepaid Ocean Services Ltd. News

Zaggle soars on reporting 72% jump in Q2 consolidated net profit12 Nov 2025, 9:56AM Zaggle reports 72% jump in Q2 consolidated net profit 12 Nov 2025, 9:49AM Zaggle Prepaid Ocean - Quaterly Results12 Nov 2025, 12:00AM Zaggle Prepaid Ocean Services informs about outcome of board meeting11 Nov 2025, 5:18PM Zaggle inks pact with Hitachi Cash Management Services1 Nov 2025, 5:29PM Zaggle Prepaid Ocean Services submits intimation for execution of agreement1 Nov 2025, 12:13PM Zaggle Prepaid Ocean Services informs about proceedings of EGM 31 Oct 2025, 5:20PM Zaggle Prepaid Ocean Services informs about award of order30 Oct 2025, 5:08PM Zaggle Prepaid Ocean Services inks pact with Birlasoft28 Oct 2025, 2:19PM Zaggle Prepaid Ocean Services informs about company updates28 Oct 2025, 12:43PM Zaggle trades marginally higher on inking pact with Megha City Gas Distribution24 Oct 2025, 11:48AM Zaggle inks pact with Megha City Gas Distribution23 Oct 2025, 9:48AM Zaggle enters into agreement with SMC Global Securities6 Oct 2025, 4:00PM Zaggle Prepaid Ocean Services informs about updates6 Oct 2025, 2:56PM Zaggle Prepaid Ocean Services informs about outcome of board meeting3 Oct 2025, 1:43PM Zaggle enters into loan agreement with Dice Enterprises3 Oct 2025, 11:00AM Zaggle Prepaid Ocean Services informs about resignation of non-executive non-independent director 29 Sep 2025, 5:26PM Zaggle Prepaid Ocean Services inks pact with IDFC First Bank29 Sep 2025, 9:48AM Zaggle inks pact with Mastercard23 Sep 2025, 10:17AM Zaggle Prepaid Ocean Services informs about receipt of order 23 Sep 2025, 9:31AM

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 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Other Income 3.74 3.53 12.73 11.71 9.3
Profit Before Tax 25.79 26.76 42.11 34.56 44.46
Tax 7.23 6.53 10.15 8.68 11.22
Profit After Tax 18.56 20.24 31.96 25.88 33.24
Adjusted EPS (Rs) 1.51 1.51 2.38 1.93 2.48

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Sep 2025 44.2 0
Jun 2025 44.2 0
Mar 2025 44.21 0
Dec 2024 40.09 0
Sep 2024 43.88 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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