Zaggle IPO gets 12.5x subscription

Mumbai: The ₹563-crore initial public offering of Zaggle Prepaid Ocean Services was subscribed 12.57 times on the last day of bidding on Monday.

The issue received bids of 24.49 crore shares against the offered 1.93 crore shares. The qualified institutional buyer portion was subscribed 16.73 times, while the non-institutional investors portion was subscribed 8.85 times.

The retail portion was subscribed 5.94 times. The company raised Rs 253.5 crore from 23 anchor investors ahead of the issue.