IPO
Business spends mgmt platform Zaggle's Rs.563-Cr IPO gets 12.5x subscription
The INR 563-crore initial public offering of Zaggle Prepaid Ocean Services was subscribed 12.57 times. The issue received bids of 24.49 crore shares against the offered 1.93 crore shares. The qualified institutional buyer portion was subscribed 16.73 times, while the non-institutional investors portion was subscribed 8.85 times. The retail portion was subscribed 5.94 times. The company had raised INR 253.5 crore from 23 anchor investors ahead of the issue. Zaggle builds financial solutions and products to manage the business expenses of corporates, SMEs (small and medium enterprises) and startups through automated and innovative workflows.
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