Zaggle Raises INR 253.52 Crores from Anchor Investors Ahead of IPO

IPO-bound B2B SaaS fintech startup, Zaggle, has made significant strides in its journey to go public by securing INR 253.52 crores from 23 anchor investors. The company allocated 1.54 crore shares to these anchor investors at a price of INR 164 per share. As the startup gears up for its public issue, scheduled to open on September 14th, this substantial anchor investment marks a promising milestone.

Strong Support from Anchor Investors:

Zaggle's anchor investment round witnessed enthusiastic participation from a diverse group of investors. This substantial capital infusion showcases the confidence that anchor investors have in Zaggle's business model and growth prospects.

Domestic Mutual Funds Lead the Way:

Out of the 1.54 crore shares allocated to anchor investors, a significant 24.46% were snapped up by three domestic mutual funds. These include Kotak Equity Opportunities Fund, Neuberger Berman Emerging Equity Fund, and ICICI Prudential Technology Fund. Their active participation underscores the appeal of Zaggle's fintech solutions within the mutual fund industry.

IPO Details and Public Issue:

Zaggle's upcoming public issue has set a price band ranging from INR 156 to INR 164 per share. Investors and the market at large are keenly observing this development as the fintech startup prepares to open its IPO to the public. The public issue is scheduled to close on September 18th, making it a time-sensitive opportunity for potential investors.

Unlocking Growth Potential:

The substantial anchor investment not only provides Zaggle with a strong financial foundation but also sets the stage for potential investors to tap into the company's growth journey. As a B2B SaaS fintech startup, Zaggle offers innovative financial solutions that cater to the evolving needs of businesses and institutions. This anchor investment reflects the recognition of Zaggle's potential to disrupt and innovate in the fintech space.

Zaggle's successful anchor investment round marks a pivotal moment in its journey towards an IPO. The confidence displayed by anchor investors, including prominent domestic mutual funds, is a testament to the startup's promising trajectory. As Zaggle prepares to open its public issue, the financial industry and investors alike will be closely watching its progress, anticipating the impact it may have on the fintech landscape.