“It is a leading player in spend management, with more than 50 million prepaid cards issued in partnership with banking partners and more than 2.27 million users served, as of March 31, 2023,” HDFC Securities said.
The IPO comprises a fresh issue of equity shares up to Rs 392 crore and an offer for sale (OFS) component of up to 1.04 crore shares by promoters and a few external investors.
Zaggle Prepaid Ocean Services IPO: The Rs 563.38-crore public issue comprises a fresh issue component of Rs 392 crore, and an offer-for-sale portion of 1.04 crore shares.