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<ul><li><keyword id="3260122" type="General" weightage="20" keywordseo="zaggle" source="Orion">Zaggle</keyword> will share its allotment status on Thursday, September 21.</li><li>The shares of Zaggle were subscribed 12.86 times.</li><li>The shares are expected to be listed on the stock exchanges on September 22.</li></ul> Mumbai-based <keyword id="4399358" type="General" weightage="50" keywordseo="zaggle-prepaid-ocean-services" source="Orion">Zaggle Prepaid Ocean Services</keyword>, a business spend management software and services provider, is expected to announce the allotment status of its initial public offering (IPO) on Thursday, September 21. The <keyword id="15836909" type="General" weightage="20" keywordseo="Zaggle-IPO" source="Orion">Zaggle IPO</keyword> opened on September 14 and closed on September 18. The price band for the IPO was ₹156 to ₹164 per share. <cmsannotation type="cmsannotation" annotationid="Decent subscription" comment="subhead" text="Decent subscription">Decent subscription</cmsannotation> On its last day, the Zaggle IPO was subscribed 12.86 times, receiving bids for 24.28 crore equity shares against 1.93 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 16.94 times, the non-institutional investors portion was subscribed 9.16 times. The retail portion also witnessed decent participation and was subscribed 6.15 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Zaggle are currently commanding a grey market premium (GMP) of ₹15 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="18854590" type="General" weightage="100" keywordseo="Zaggle-IPO-allotment" source="Orion">Zaggle IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.</li><li>Click on ‘Company Selection’ and then select ‘Zaggle’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Click on ‘Search’.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Zaggle IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Zaggle’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Zaggle listing date" comment="subhead" text="Zaggle listing date">Zaggle listing date</cmsannotation> The shares of Zaggle will be listed on the stock exchanges on September 22. SEE ALSO: <a href="https://www.businessinsider.in/business/news/signature-global-ipo-subscription-status/articleshow/103813374.cms">Signature Global receives over 50% subscription on day one</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-review-price-and-features/articleshow/103760937.cms">Samsung Galaxy Z Fold 5 review – The foldable segment’s bar raised</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-14-iphone-13-get-a-price-cut-how-to-own-one-with-an-additional-discount/articleshow/103693944.cms">iPhone 14, iPhone 13 get a price cut – How to own one with an additional discount </a>

Zaggle IPO allotment – how to check allotment, GMP, listing date and more

<ul><li>The qualified institutional buyer (QIB) portion was subscribed 16.73 times.</li><li>The retail portion however was subscribed 5.9 times.</li></ul><keyword id="4399358" type="General" weightage="20" keywordseo="zaggle-prepaid-ocean-services" source="Orion">Zaggle Prepaid Ocean Services</keyword>’s initial public offer (IPO) was subscribed 12.5 times the shares on offer. The qualified institutional buyer (QIB) portion was subscribed 16.73 times, and the non-institutional investor portion was subscribed 8.8 times. The retail portion however was subscribed 5.9 times. The IPO had a price band of ₹156-₹164 per equity share. The IPO comprises a fresh issue of equity shares aggregating to ₹392 crore and an offer for sale up to 10,449,816 shares by selling shareholders. It has raised ₹253.52 crore ahead of the public offer from anchor investors like Kotak Equity Opportunities Fund, ICICI Prudential Technology Fund, Eastspring Investments India Fund and more. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.73 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.85 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.94 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.57 </td></tr></tbody></table> Source: BSE Its promoters Raj P Narayanam, Avinash Ramesh Godkhindi will be selling shares along with VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, Ventureast Trustee Company, Zuzu Software Services; and Koteswara Rao Meduri. The company proposes to utilize its net proceeds towards customer acquisition and retention, technology development and towards re-payment or pre-payment of certain borrowings, and general corporate purposes. ICICI Securities, Equirus Capital, IIFL Securities and JM Financial are the book running lead managers to the offer. Convergence of SaaS and fintech <keyword id="3260122" type="General" weightage="50" keywordseo="zaggle" source="Orion">Zaggle</keyword>, which was incorporated in 2011, is a SaaS and fintech company that operates in the B2B2C segment. It interacts and interfaces with customers which are businesses and end users who are employees. It claims to be a leading player in spend management, with more than 50 million prepaid cards issued in partnership with banks and more than 2.27 million users served, as of March 31, 2023. It has diverse offerings like fintech products and services, and a portfolio of SaaS, including tax and payroll software, it said in its RHP. Its profits in FY23 fell by 45% in FY23, as compared to the year before. It also experienced negative operating cash flows of ₹15.6 crore in FY23 primarily due to an increase in trade receivables of ₹58 crore. Its revenues, however, have been steadily growing due to increases in user base, accompanied by an increase in spending by the users. An increase in program fees received due to an overall increase in business scale also aided the growth. “Several factors contribute to its appeal, including a diverse client base spanning various industries, consistent revenue growth over the years, the company's expansion strategies, a diversified revenue model, and the flourishing digital payments sector,” said a report by Geojit which gave a subscribe recommendation on a short- to medium-term basis.

Zaggle IPO subscribed 12.5x with good interest from QIBs

<ul><li>The IPO comprises a fresh issue of shares aggregating to ₹392 crore; and an offer for sale up to 10,449,816 shares.</li><li>Bids can be made for a minimum of 90 equity shares and in multiples of 90 thereafter.</li><li>Its net will be used for customer acquisition and retention, techn development, loan payment and general corporate purposes. </li></ul>Zaggle Prepaid Ocean Services, a <keyword id="18735153" type="General" weightage="20" keywordseo="spends-management-fintech" source="Orion">spends management fintech</keyword> company, said on Monday that its initial public offer (IPO) will open on September 14 and close on September 18. It has set a price band of ₹156-₹164 per equity share. Companies that offer software as a service (SaaS) are known as SaaS companies. Bids can be made for a minimum of 90 equity shares and in multiples of 90 equity shares thereafter. The IPO comprises a fresh issue of equity shares aggregating to ₹392 crore and an offer for sale up to 10,449,816 shares by selling shareholders. Its promoters Raj P Narayanam, Avinash Ramesh Godkhindi will be selling shares along with VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, Ventureast Trustee Company, Zuzu Software Services; and Koteswara Rao Meduri. The company proposes to utilize its net proceeds towards customer acquisition and retention, technology development and towards re-payment or pre-payment of certain borrowings, and general corporate purposes. ICICI Securities, Equirus Capital, IIFL Securities and JM Financial are the book running lead managers to the offer. About the company Zaggle, which was incorporated in 2011, is a SaaS and fintech company that operates in the B2B2C segment. It interacts and interfaces with customers which are businesses and end users who are employees. It claims to be a leading player in spend management, with more than 50 million prepaid cards issued in partnership with banks and more than 2.27 million users served, as of March 31, 2023. It has diverse offerings like fintech products and services, and a portfolio of SaaS, including tax and payroll software, it said in its RHP. The overall market for spend management software and services was estimated to surpass ₹20,000 crore by Fiscal 2027. The outsourced spend management estimated to be around 60% during that period, as per Frost &amp; Sullivan. It has no peers neither in India nor abroad. Financials &amp; Risk Factors Its profits in FY23 fell by 45% in FY23, as compared to the year before. It also experienced negative operating cash flows of ₹15.6 crore in FY23 primarily due to an increase in trade receivables of ₹58 crore. Its revenues, however, have been steadily growing due to increases in user base, accompanied by an increase in spending by the users. An increase in program fees received due to an overall increase in business scale also aided the growth. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 (consol) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 (standalone) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 (standalone) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenues </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹554 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹371 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹240 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PAT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹22.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹41.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹19.3 crore </td></tr></tbody></table>Source: RHP In its risk factors, the company said that it operates in a highly competitive industry. It may experience significant fluctuations in financial performance due to a number of factors like — inability to attract new customers, grow or maintain its customer retention rate, expand usage within enterprises, gain continued acceptance of its products and expand use and more. Further, its marketing efforts may not attract additional customers on a cost-effective basis. The businesses of its banking partners are regulated by the RBI and any change in the RBI’s policies, decisions and regulatory framework could have an adverse effect. Its international expansion efforts may not be successful and may expose it to complex management, legal, tax, competition and economic risks. Its sites, networks, and systems may experience security incidents or breaches in future.

Spends management fintech Zaggle’s IPO to open on 14 September

Fintech player <keyword id="15835888" type="General" weightage="50" keywordseo="zaggle-prepaid-ocean-services-ltd" source="Orion">Zaggle Prepaid Ocean Services Ltd</keyword> on Tuesday said it has raised Rs 25 crore from <keyword id="18495265" type="General" weightage="50" keywordseo="valuequest-scale-fund" source="Orion">ValueQuest Scale Fund</keyword> in the pre-IPO (initial public offering) round. This came after the firm raised Rs 73 crore from a clutch of investors through a private placement last week. With the latest fund infusion, the combined fund raising by the firm reached Rs 98 crore in two tranches. In a public statement on Tuesday, <keyword id="3260122" type="General" weightage="80" keywordseo="zaggle" source="Orion">Zaggle</keyword> said that it issued 15,24,390 equity shares to ValueQuest at a price of Rs 164 apiece. Zaggle filed its draft papers with capital markets regulator Sebi in December 2022 to raise funds through an <keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>. Going by the draft papers, the IPO comprises fresh issue of equity shares worth Rs 490 crore and an offer for sale (OFS) component of 1.05 crore stocks by promoters, investors and other shareholders. Proceeds from the fresh issue would be utilised towards customer acquisition and retention, development of technology and products, payment of debt and for general corporate purposes. Founded in 2011, the company operates in the business-to-business-to-customer segment. 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).

Zaggle garners Rs 25 cr from ValueQuest in pre-IPO round

<ul><li>The stock listed at ₹168 as compared to its IPO price of ₹164.</li><li>The marketcap of the company is at ₹2,028 crore according to Bombay Stock Exchange.</li><li>It plans to use net proceeds to acquire and retain customers, tech development, loan payment and more. </li></ul><keyword id="3260122" type="General" weightage="20" keywordseo="zaggle" source="Orion">Zaggle</keyword> Prepaid Ocean Services debuted on the bourses at a 2.9% premium on Friday morning. But the stock fell in trade today, leaving with losses on listing to the tune of 3.4%. The stock closed at ₹158 as compared to its IPO price of ₹164. The grey market was expecting listing gains to the tune of 9%. The marketcap of the company is at ₹2,028 crore, according to Bombay Stock Exchange. The stock markets opened in the red today after crashing for the last two sessions. Sensex was down by 178 points and Nifty by 64 points as of 10:00 am. Its initial public offer (IPO) was subscribed 12.5 times the shares on offer. The qualified institutional buyer (QIB) portion was subscribed 16.73 times, and the non-institutional investor portion was subscribed 8.8 times. The retail portion was subscribed 5.9 times. Here are the listing gains of the market debuts in the last few months. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EMS Ltd </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32.58% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">R R Kabel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jupiter Life Line Hospitals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rishabh Instruments </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ratnaveer Precision Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishnu Prakash R Punglia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aeroflex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">83% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pyramid Technoplast </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Supply Chain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBFC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Concord Biotech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody><tbody></tbody></table> The IPO had a price band of ₹156-₹164 per equity share. The IPO comprises a fresh issue of equity shares aggregating to ₹392 crore and an offer for sale up to 10,449,816 shares by selling shareholders. It has raised ₹253.52 crore ahead of the public offer from anchor investors like Kotak Equity Opportunities Fund, ICICI Prudential Technology Fund, Eastspring Investments India Fund and more. The company proposes to utilise its net proceeds towards customer acquisition and retention, technology development and towards re-payment or pre-payment of certain borrowings, and general corporate purposes. Convergence of SaaS and fintech Zaggle, which was incorporated in 2011, is a SaaS and fintech company that operates in the B2B2C segment. It interacts and interfaces with customers which are businesses and end users who are employees. It claims to be a leading player in spend management, with more than 50 million prepaid cards issued in partnership with banks and more than 2.27 million users served, as of March 31, 2023. It has diverse offerings like fintech products and services, and a portfolio of SaaS, including tax and payroll software, it said in its RHP. Its profits in FY23 fell by 45% in FY23, as compared to the year before. It also experienced negative operating cash flows of ₹15.6 crore in FY23 primarily due to an increase in trade receivables of ₹58 crore. Its revenues, however, have been steadily growing due to increases in user base, accompanied by an increase in spending by the users. An increase in program fees received due to an overall increase in business scale also aided the growth. “Several factors contribute to its appeal, including a diverse client base spanning various industries, consistent revenue growth over the years, the company's expansion strategies, a diversified revenue model, and the flourishing digital payments sector,” said a report by Geojit which gave a subscribe recommendation on a short- to medium-term basis.

Fintech Zaggle's debut fizzles out with flat listing gains

Fintech player <keyword id="15835888" type="General" weightage="50" keywordseo="zaggle-prepaid-ocean-services-ltd" source="Orion">Zaggle Prepaid Ocean Services Ltd</keyword> has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The <keyword id="6354763" type="General" weightage="100" keywordseo="ipo" source="Orion">IPO</keyword> (initial public offering) comprises a fresh issue of equity shares worth Rs 490 crore and an offer for sale (<keyword id="883402" type="General" weightage="50" keywordseo="ofs" source="Orion">OFS</keyword>) component of 1.05 crore stocks by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP). Those offering shares in the OFS include promoters -- Raj P Narayanam and Avinash Ramesh Godkhindi and investors -- VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, and <keyword id="15835889" type="General" weightage="50" keywordseo="ventureast-trustee-company" source="Orion">Ventureast Trustee Company</keyword>. Proceeds from the fresh issue would be utilised towards customer acquisition and retention, development of technology and products, payment of debt and general corporate purposes. Founded in 2011, the company operates in the business-to-business-to-customer segment. 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). It offers digitized solutions for employee tax benefits, expense management, corporate gifting and rewards and recognition programmes. The company has 1,896 customers and 19.82 lakh users as of June-end. ICICI Securities, Equirus Capital, IIFL Securities and JM Financial have been appointed as merchant bankers to manage the IPO. The equity shares of the company will be listed on the <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> and NSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dabur-just-dial-hindustan-zinc-among-stocks-to-watch-out-for/articleshow/96359393.cms">Sensex, Nifty50 open lower amid mixed market cues – Dabur, Just Dial, Hindustan Zinc among stocks to watch out for</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/abans-holdings-ipo-here-is-how-to-check-the-allotment-status/articleshow/96360387.cms">Abans Holdings IPO: Here is how to check the allotment status</a>

Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO

IPO gold rush: All but 4 IPOs in FY24 gave positive returns on listing

The government has raised over Rs 4.04 lakh crore through disinvestment and strategic sale of public sector enterprises since the Modi government came into power in 2014, the <keyword id="47209" type="General" weightage="80" keywordseo="finance-ministry" source="Orion">Finance Ministry</keyword> said on Tuesday. Of this, the largest amount totalling over ₹1.07 lakh crore through offer for sale in 59 cases. This was followed by a stake sale through <keyword id="181067" type="General" weightage="80" keywordseo="exchange-traded-fund" source="Orion">Exchange Traded Fund</keyword> (ETF) in 10 tranches, aggregating to ₹98,949 crore. Strategic sales in 10 companies, including <keyword id="2573" type="General" weightage="80" keywordseo="air-india" source="Orion">Air India</keyword>, yielded Rs 69,412 crore to the exchequer in the last 8 years. Share buyback in 45 cases fetched ₹45,104 crore. 17 CPSEs were listed since 2014-15, which yielded Rs 50,386 crore. Of this, the initial pub<keyword id="6367143" type="General" weightage="80" keywordseo="lic" source="Orion">lic</keyword> offering (IPO) of LIC alone fetched the government Rs 20,516 crore. The additional market capitalisation of ₹7.31 lakh crore was achieved through new listings, the ministry said. Besides, the government has sold its residual stake in <keyword id="411504" type="General" weightage="80" keywordseo="paradeep-phosphate-ltd" source="Orion">Paradeep Phosphate Ltd</keyword>, IPCL, and Tata Communication for ₹472 crore, ₹219 crore and ₹8,847 crore, respectively. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fintech-player-zaggle-files-ipo-papers-with-sebi-to-mobilise-funds-via-ipo/articleshow/96367455.cms">Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-to-pause-rate-hikes-in-2023-peak-rate-at-6-25-to-6-5-percent-says-kotak-institutional-equities/articleshow/96371881.cms">RBI to pause rate hikes for most of 2023, hold peak policy rate at 6.25-6.5%: Kotak Institutional Equities</a>

Govt raises over ₹4 lakh crores via disinvestment since 2014

<ul><li>The festive-season momentum of increased hiring in retail, e-commerce, and BFSI sectors will likely spill over into 2023. </li><li>A similar trend is expected in the services-oriented industries of hospitality, and airline sectors as people continue to travel more to make up for the Covid-time isolation. </li><li>A survey by <a href="https://economictimes.indiatimes.com/epaper/delhicapital/2022/dec/15/et-corp/indian-it-hiring-to-buck-global-trend-may-pick-up-in-23/articleshow/96235151.cms">Randstad</a> says that hiring in the Indian IT sector is likely to rise in the first quarter of 2023 as seven out of 10 companies plan to increase their headcount in the period. </li><li>Data science, analytics, and other technology-related job roles are likely to continue to be in demand in the new year.</li></ul>Specialised IT, telecom and service-oriented jobs will be on the upswing in 2023 as increased digitalisation, 5G expansion and a claw back by service sectors to pre-Covid levels of growth — will necessitate increased hiring in these sectors.Also, the momentum from the festive season-driven hiring growth in retail, e-commerce and BFSI (banking, financial services and insurance) sectors witnessed in the last quarter of 2022 will likely spill over into the next year, industry players say. <cmsannotation type="cmsannotation" annotationid="High-skilled IT jobs, telecom sector to drive growth" comment="subhead" text="High-skilled IT jobs, telecom sector to drive growth">High-skilled IT jobs, telecom sector to drive growth</cmsannotation> Despite the large-scale job cuts and hiring freeze affected by global technology players, the Indian IT sector is likely to defy the global trends and see hiring next year – especially for specialised digital skills. A survey by staffing and recruiting services firm <a href="https://economictimes.indiatimes.com/epaper/delhicapital/2022/dec/15/et-corp/indian-it-hiring-to-buck-global-trend-may-pick-up-in-23/articleshow/96235151.cms">Randstad</a> says that hiring in the Indian IT sector is likely to pick up in the first quarter of 2023 as seven out of 10 companies plan to increase their headcount during the period. And the country’s big push for 5G expansion in 2023 will see a surge in hiring in the telecom sector as well. “Sectors such as IT, healthcare, e-commerce will continue to grow and with the advent of 5G, we will see a sharp rise in telcom jobs as well in the next few quarters. With the rising job market and ever-evolving concept of job, it will be interesting to see how India defines the future of work,” Sashi Kumar, head of sales at Indeed India, told Business Insider India. To be sure, the hiring pace in the Indian IT sector slowed down this year and this was particularly seen in the case of freshers. However, experts say that the demand for IT digital skills like SAP, salesforce developers, dot net, data analytics, java, full stack, devOps, and cloud infra will continue to remain strong in 2023. “We do see an upswing in demand for digital skills as the services sector continues to hire,” Nitin Dave, CEO – Quess Staffing Solutions told Business Insider India. According to a recent Indeed survey, around 71% of companies recruited people with IT abilities and skills this year. Data science, analytics, and other technology-related job roles are likely to continue to be in demand next year as well, according to Kumar of Indeed India. “High-skilled engineering employees who have prowess for futuristic tech are in demand and they have multiple opportunities, hence we see that employability is positive,” Kumar added. Crypto roles - which had the biggest share of hires in overall technology job roles, increasing from 41.22% in 2019-20 to 67.48% in 2021-22 – will continue its upward growth with high demand for application developers, data engineers and full-stack developers. Another big source of demand for human resources will be from global capability centres (GCCs). “We also expect to see an increase in job demand from the growing number of GCCs in India,” Dave added. GCCs will create over 3.64 lakh new jobs over the next 12 months, a 38% rise from last year, according to a <a href="https://www.livemint.com/technology/tech-news/gccs-to-ramp-up-india-hiring-11670426280595.html">report</a> by staffing firm NLB Services. <cmsannotation type="cmsannotation" annotationid="Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party" comment="subhead" text="Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party">Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party</cmsannotation> Bengaluru will continue to lead in hiring of IT professionals. As per Quess data, the overall tech hiring is expected to be dominated by Tier 1 and Tier 2 cities like Hyderabad, Chennai, Mumbai, Pune, NCR, Ahmedabad, Kolkata, Jaipur and others. “We are seeing a positive growth of product and engineering roles in India, which will grow exponentially in the coming years. As a result of the pandemic’s digital push, there is a rise in jobs in engineering and R&amp;D being made available in Tier 2 and 3 cities as well,” Kumar said. Cities like Ahmedabad, Vadodara, Kochi, Indore, Jaipur, Surat and others are expected to contribute over 6.5% of total R&amp;D jobs in 2023, according to data by Indeed. <cmsannotation type="cmsannotation" annotationid="Jobs in the services industry on the upswing" comment="subhead" text="Jobs in the services industry on the upswing">Jobs in the services industry on the upswing</cmsannotation> Hospitality industry will be a key employer as people have started travelling again with a vengeance and this trend is not likely to slow down despite high inflation and interest rates, industry players added. “We are also optimistic that the hospitality, aviation and retail sectors will soon return to pre-pandemic levels,” said Dave. The aviation industry – one of the most affected industries due to the pandemic lockdowns – had to cut <a href="https://www.businesstoday.in/industry/aviation/story/covid-19-impact-10-jobs-in-aviation-sector-lost-between-apr-2020-and-dec-2021-says-govt-327667-2022-03-28">10% or 19,200 jobs</a> between April 2020 and December 2021 due to the Covid-19 pandemic, VK Singh, Minister of State for Civil Aviation said in March this year. However, the ministry in August <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/indias-aviation-sector-likely-to-employ-1-lakh-more-people-in-next-two-years/articleshow/93432356.cms">said</a> the Indian aviation industry would employ over 1 lakh people in the next two years. A growing regulatory push for ESG (environment, social and governance) compliance will drive demand for professionals in this space next year. “We are also seeing more roles in the sustainability and ESG space ranging from engineers, and research analysts to consultants,” Kumar said. Besides growth in regular jobs, g<a href="https://www.businessinsider.in/careers/news/india-to-add-9-million-gig-jobs-by-2025-says-indeed-report/articleshow/96060459.cms">ig jobs</a> in the retail and e-commerce sectors – which saw a steep growth this year – will continue to rise in 2023, experts say. As per Indeed, 9 million gig workers will be added to the Indian workforce in the next three years. “Companies have also begun to invest in platforms and procedures for gig labour, underscoring how crucial they are to India's future job growth,” said Kumar. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fintech-player-zaggle-files-ipo-papers-with-sebi-to-mobilise-funds-via-ipo/articleshow/96367455.cms">Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/tirupati-lucknow-madurai-and-other-non-metros-that-transacted-the-most-for-movies-as-per-bookmyshow/slidelist/96366956.cms">Tirupati, Lucknow, Madurai and other non-metros that transacted the most for movies, as per BookMyShow</a>

You Searched For "Zaggle IPO" and got 9 results

Zaggle IPO allotment – how to check allotment, GMP, listing date and more

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Zaggle IPO subscribed 12.5x with good interest from QIBs

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Spends management fintech Zaggle’s IPO to open on 14 September

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Zaggle garners Rs 25 cr from ValueQuest in pre-IPO round

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Fintech Zaggle's debut fizzles out with flat listing gains

BI India Bureau

Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO

PTI

IPO gold rush: All but 4 IPOs in FY24 gave positive returns on listing

Katya Naidu

Govt raises over ₹4 lakh crores via disinvestment since 2014

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Jobs market outlook 2023: Specialised IT, telecom and service-oriented sectors to drive hiring

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