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.
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.
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Zaggle operates in the B2B2C segment and is amongst a small number of uniquely positioned players with a diversified offering of financial technology products and services. The company provides offerings to customers and users that include employees, channel partners and customers, while collaborating with merchants, banks and NBFCs, providing a strong value proposition to each stakeholder.