Zaggle Prepaid makes muted market debut | Check details

PTI | | Posted by Singh Rahul Sunilkumar

Shares of fintech player Zaggle Prepaid Ocean Services Ltd made a muted market debut on Friday, falling over 1 per cent on the BSE, against the issue price of 164.

(Representative Image/PTI Photo)
(Representative Image/PTI Photo)

The stock listed at 162, down 1.21 per cent from the issue price on the BSE. Later, it lost more ground with the share price down by 5.7 per cent to 158.30.

At the NSE, the stock got listed at par with the issue price of 164. It ended up at 158.35.

The Initial Public Offering (IPO) of Zaggle Prepaid Ocean Services Ltd was subscribed 12.57 times on the last day of subscription on Monday.

The initial share sale had a fresh issue of up to 392 crore and an offer-for-sale of up to 10,449,816 equity shares.

The company’s IPO had a price range of 156-164 a share.

Founded in 2011, the company has created a market niche in the country by offering a combined solution for spend management through prepaid cards and employee management (through SaaS), the firm had said.

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