Zaggle Prepaid, Others Receive Sebi Approval For IPO
Zaggle operates in the B2B2C space and is one of a small number of businesses with a diverse offering of financial technology products and services
Photo Credit : Shutterstock,
Zaggle Prepaid Ocean Services, Healthvista, Cyient DLM and Rashi Peripherals have all got approval from market regulator and watchdog Sebi to launch their separate IPOs (Initial Public Offering).
Sebi issued a final observation letter to all of the companies, allowing them to proceed with their public offerings. The initial public offering (IPO) of Hyderabad-based fintech firm Zaggele contains new equity shares worth Rs 490 crore as well as an offer for sale (OFS) component of 1.05 crore equities by founders, investors, and other shareholders.
Shares in the OFS are being sold by promoters Raj P Narayanam and Avinash Ramesh Godkhindi, as well as investors VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, and Ventureast Trustee Company.
Zaggle operates in the B2B2C space and is one of a small number of businesses with a diverse offering of financial technology products and services.
Employees, channel partners, and consumers are among the offerings provided to customers and users by the firm, which collaborates with merchants, banks, and NBFCs to deliver a strong value proposition to each stakeholder. As of June 30, the company had 1,896 customers and 19.82 lakh users.
The proceeds from the new issue, according to the company, would be used for client acquisition and retention, technology and product development, debt repayment, and general corporate reasons.
The issue's book-running lead managers are ICICI Securities, Equirus Capital, IIFL Securities, and JM Financial.
Meanwhile, Healthvista's offer consists of a fresh issue of up to Rs 200 crore and an offer for the sale of up to 5.6 crore shares by investor-selling stockholders.
Healthvista India is India's top out-of-hospital healthcare service. Primary care, geriatric (elderly) and palliative (end-of-life) care, intensive care unit care, and post-operative and post-hospitalization care are among the services offered by the organisation.
SBI Capital Markets, IIFL Securities, and JM Financial are the issue's book-running lead managers.
Both Cyient DLM and Rashi Peripherals' public offerings are entirely new problems with no OFS component. Cyient DLM intends a public offering of fresh shares worth up to Rs 740 crore, while Rashi Peripherals' fresh equity issue is valued at Rs 750 crore.
