Zaggle Prepaid Ocean Services Ltd IPO
Zaggle is a leading player in spend management, with a differentiated value proposition and diversified user base.
They are sector-agnostic, and network of corporate customers (“Customers”) covers the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobile industries, among others, where they have relationships with brands such as TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP – Sanjiv Goenka Group), Hiranandani group, Cotiviti and Greenply Industries.
Their SaaS platform is designed for:
(i) business spend management (including expense management and vendor management)
(ii) rewards and incentives management for employees and channel partners
(iii) a gift card management for merchants
Their core product portfolio include:
• ‘Propel’, a corporate SaaS platform for channel rewards and incentives, employee rewards and recognition
• ‘Save’, a SaaS-based platform and a mobile application to offer expense management solution for business spend management facilitating digitised employee reimbursements and tax benefits
• ‘CEMS’, a customer engagement management system that enables merchants to comprehensively manage their customer experiences including rewarding merchants through gift card and loyalty benefits
• ‘Zaggle Payroll Card’, a prepaid payroll card that allows our Customers to pay contractors, consultants, seasonal and temporary employees, and unbanked wage workers as an alternative to direct deposits to bank accounts or cash payments
• ‘Zoyer’, an integrated data driven, SaaS based business spend management platform with embedded automated finance capabilities in core invoice to pay workflows.
(i) Their recent revenue growth rates may not be indicative of future financial performance. They have limited operating history at current scale. Failure to effectively manage growth could materially and adversely affect the success of business and/or impact their margins.
(ii) Laws and regulations governing business and operations may continue to change and evolve and the introduction of new laws and regulations applicable to business may adversely affect financial condition, results of operations and profitability.
(iii) They may be unable to retain existing Customers, attract new Customers, convert Customers using beta or trial versions into paying Customers, or expand usage of products within or across Customer organisations.
(iv) They are dependent on third-party payment networks to operate prepaid card business
(v) The Company does not have any listed industry peers in India or abroad.
Objects of the Zaggle Prepaid Ocean Services Ltd IPO:
Zaggle Prepaid Ocean Services Ltd IPO Details:
|Open Date:||Sep 14 2023|
|Close Date:||Sep 18 2023|
|Face Value:||₹ 1 Per Equity Share|
|Issue Type:||Fixed Issue|
|Issue Size:||563.38 Cr.|
|Lot Size:||90 Shares|
|Issue Price:||₹ 156 to ₹164 Per Equity Share|
|Listing Date:||Sep 26 2023|
Promoters And Management:
Financials of Zaggle Prepaid Ocean Services Ltd IPO:
Particulars ( In Million )
|Revenue from Operations||683||2,400||3,713||5,535|
|Cost of Point Redemption / Gift Cards||62||297||1,435||3,189|
|Consumption of Cards||29||15||18||18|
|Employee Benefits Expense||106||125||154||436|
|Depreciation & Amortisation||19||20||21||62|