B2B fintech startup Zaggle has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offer (IPO).
The startup is offering to sell new equity worth INR 490 Cr. along with an additional 10.5 million shares, according to the draft documents (OFS). In its draft documents, Zaggle has not specified the total value of the offer. Raj P. Narayanan, the company’s founder, and Avinash Godkhindi, its CEO, will each see their ownership of the company diluted by about 1.5 million shares as a result of the IPO. When compared to FY21, Zaggle’s profit increased 54% year over year (YoY), from INR 19.3 Cr to INR 41.92 Cr.
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B2B fintech startup Zaggle has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offer (IPO).
The startup is offering to sell new equity worth INR 490 Cr. along with an additional 10.5 million shares, according to the draft documents (OFS). In its draft documents, Zaggle has not specified the total value of the offer. Raj P. Narayanan, the company’s founder, and Avinash Godkhindi, its CEO, will each see their ownership of the company diluted by about 1.5 million shares as a result of the IPO. When compared to FY21, Zaggle’s profit increased 54% year over year (YoY), from INR 19.3 Cr to INR 41.92 Cr.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
