P N GADGIL JEWELLERS LIMITED INITIAL PUBLIC OFFERING TO OPEN
Zaggle Prepaid Ocean Services Limited raises Rs. 980 million via Pre-IPO Placement
Zaggle Prepaid Ocean Services Limited, in consultation with the BRLMs, has undertaken a Pre-IPO placement of 5,975,609 equity shares at a price of Rs. 164 per equity share (including a share premium of Rs. 163 per equity share) aggregating to Rs. 980 million (“Pre-IPO Placement”) in two tranches. The Pre-IPO Placement has been undertaken pursuant to the approval of the Board and Shareholders in their meeting held on August 10, 2023 and August 11, 2023, respectively.
The company in the first tranche allotted 1,829,269 equity shares amounting to Rs. 300 million allotted to Mr. Ashish Rameshchandra Kacholia; 1,829,269 equity shares amounting to Rs. 300 million allotted to Bengal Finance & Investment Pvt. Ltd.; 579,268 equity shares amounting to Rs. 95 million allotted to Ms. Himanshi Kela; 91,461 equity shares amounting to Rs. 15 million allotted to Absolute Returns Scheme; 60,976 equity shares amounting to Rs. 10 million allotted to Vikasa India EIF I Fund – Incube Global Opportunities; 60,976 equity shares amounting to Rs. 10 million allotted to Acintyo Investment Fund PCC – Cell 1.
In the second tranche the company allotted 1,524,390 equity shares amounting to Rs. 250 million allotted to Value Quest SCALE Fund.
The company had filed the DRHP with SEBI for their proposed IPO last year. According to the DRHP filed with SEBI, the IPO comprised of a fresh issue aggregating up to Rs. 4,900 million (The “Fresh Issue”) and an offer for sale aggregating up to 10,526,316 equity shares by “Promoter Selling Shareholder” and “Investor Selling Shareholder” (The “Offer for Sale”).
The offer for sale up to 10,526,316 equity shares comprises of up to 1,529,677 equity shares by Raj P Narayanam; up to 1,529,677 equity shares by Avinash Ramesh Godkhindi; (“Promoter Selling Shareholders”); up to 2,830,499 equity shares by VenturEast Proactive Fund LLC; up to 2,046,026 equity shares by GKFF Ventures; up to 538,557 equity shares by VenturEast SEDCO Proactive Fund LLC; up to 118,040 equity shares by Ventureast Trustee Company Private Limited (“Investor Selling Shareholder”); up to 1,765,540 equity shares by Zuzu Software Services Private Limited (“Corporate Selling Shareholder”); up to 91,800 equity shares by Koteswara Rao Meduri; and up to 76,500 equity shares by Malvika Poddar (“Individual Selling Shareholder”)
ICICI Securities Limited, Equirus Capital Private Limited, IIFL Securities Limited and JM Financial Limited are the Book Running Lead Managers to the Issue.