Zaggle Prepaid IPO Fully Booked On Final Day Of Issue; Checkout Subscription Status And Other Details

Zaggle Prepaid Ocean Services IPO has been subscribed 1.18 times on the final day of bidding issue so far. The issue opened for subscription on Thursday, September 14 and will close today, Monday, September 18.

The retail portion in Zaggle Prepaid IPO was subscribed 3.48 times, NII portion was subscribed 1.76 times, and Qualified Institutional Buyers (QIB) was subscribed 9%.

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As per BSE data, the IPO received bids for  2,27,35,530 shares against 1,93,26,761 shares on offer, as of 12:36 pm IST. The retail investors' portion received bids for 1,23,91,290 shares against 35,57,802 shares on offer for this segment.

Whereas, the non-institutional investors' portion received bids for 93,96,630 shares against 53,36,703 on offer, QIB portion received bids for 9,47,610 shares against 1,04,32,256 shares on offer for this segment.

The company intended to raise Rs 563.38 crore via the IPO, which has a fresh issue component of Rs 392 crore, and an offer-for-sale (OFS) portion of 1.04 crore shares worth Rs 171.38 crore at the upper price band.

The company plans to use the net proceeds from the offering to fund customer acquisition and retention costs, product and technology development costs, general corporate expenses, and the repayment or prepayment of some borrowings that the company has taken out, in full or in part.

The price band of the offer was set between Rs 156-164 per share. The company has already raised Rs 253.52 crore from 23 anchor investors at the upper price band of ₹ 164 per equity share.

Marquee investors including Morgan Stanley Asia (Singapore), Matthews Asia Funds, Copthall Mauritius Investment, Societe Generale, Goldman Sachs, ICICI Prudential, LIC Mutual Fund, Abakkus Diversified Alpha Fund, and Elara India Opportunities Fund participated in the anchor book on September 13.

ICICI Securities Limited, Equirus Capital Private Limited, IIFL Securities Limited and JM Financial Limited are the book running lead managers to the offer.

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Zaggle Prepaid IPO GMP Today

The Grey Market Premium (GMP) for the Zaggle IPO today remains at +16, mirroring the previous trading session. On Monday, the Zaggle Prepaid Ocean Services IPO GMP was also +16. Back on Saturday, September 16, the GMP for the Zaggle IPO stood at ₹15.

Taking into account the upper limit of the IPO price range and the current premium observed in the grey market, the anticipated listing price for Zaggle shares stands at ₹180 per share, representing a 9.76% increase over the IPO price of ₹164.