Zaggle Prepaid Ocean Services IPO
Zaggle Prepaid Ocean Services Limited (ZAGGLE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 22 September 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -2.8% (likely range -13% to -1%), day's high +3.4%, chance of a gain 20%. Actual: 0.0% at the open, +7.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,04,32,256 | 17,45,56,440 | 16.7x | |
| NII (HNI) total | 53,36,703 | 4,72,10,040 | 8.85x | |
| Big NII (above ₹10 lakh) | 35,57,802 | 3,55,91,670 | 10.0x | |
| Small NII (₹2-10 lakh) | 17,78,901 | 1,16,18,370 | 6.53x | |
| Retail | 35,57,802 | 2,11,16,610 | 5.94x | |
| Total | 1,93,26,761 | 24,28,83,090 | 12.6x |
Bids on NSE and BSE together, as published by NSE, as of 18 Sep 2023, 07:00 PM. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Zaggle Prepaid Ocean Services's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Larsen & Toubro InfotechJul 2016 | 19.9x | 10.8x | 7.39x | 11.7x | ₹1,242 Cr | -6.1% | 0.0% |
| Newgen Software TechnologiesJan 2018 | 15.6x | 5.52x | 5.18x | 8.25x | ₹428 Cr | +3.7% | +8.9% |
| Future Supply Chain SolutionsDec 2017 | 12.4x | 11.2x | 3.28x | 7.56x | ₹650 Cr | 0.0% | +5.3% |
| Ircon InternationalSep 2018 | 12.3x | 4.92x | 10.1x | 9.90x | ₹806 Cr | -13.3% | -2.1% |
| PSP ProjectsMay 2017 | 8.38x | 10.4x | 6.47x | 8.58x | ₹212 Cr | -9.5% | -5.0% |
| Mahindra LogisticsNov 2017 | 15.6x | 2.07x | 6.10x | 7.90x | ₹829 Cr | 0.0% | +1.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| Equirus Capital | 34 | +21.3% | 74% |
| IIFL Securities | 94 | +19.3% | 71% |
| JM Financial | 109 | +22.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the Zaggle Prepaid Ocean Services IPO price band and lot size? ₹156–164 per share, with a lot of 90 shares, so the smallest retail bid is ₹14,760.
How many times has it been subscribed? 12.6x overall: QIB 16.7x, NII 8.85x, retail 5.94x.
How did it list? It opened at ₹164, +0.0% against the issue price of ₹164, and closed its first day -3.5%.
