The IPO of Zaggle was subscribed 12.86 times, with the quota reserved for Qualified Institutional Investors’ (QIBs) booking by 16.94 times. The portion for Non-Institutional Investors’ (NIIs) was subscribed 9.16 times and the retail category by 6.15 times.

On the other hand, the issue of SAMHI Hotels was subscribed 5.33 times. The portion reserved for QIBs was booked 8.82 times, while quota for NIIs and retail investors were subscribed 1.22 times and 1.11 times, respectively.

Zaggle, the Mumbai-based fintech-SaaS, raised ₹563 cr via IPO, which comprised a fresh issue of equity shares worth ₹392 crore and an offer for sale of 1.04 crore shares by promoters and existing shareholders. The funds raised from the issuance of fresh equity shares will be used for customer acquisition and retention, development of technology and products, payment of debt and for general corporate purposes. It intends to use ₹300 crore for customer acquisition and retention over three financial years from FY24 to FY26; ₹40 crore for the development of technology and products; ₹17.08 crore to repay debts; and remaining capital for general corporate purposes. As of March 2023, Zaggle had total outstanding borrowings of ₹90.03 crore.

Meanwhile, the Gurugram-based hotel asset company SAMHI Hotels garnered ₹1,370 crore via IPO at a price band of ₹119-126 per share. In an interaction with Fortune India, Ashish Jakhanwala, Chairman, Managing Director and Chief Executive Officer of SAMHI Hotels, said that most of the IPO proceeds (around ₹1,100 crore) will be used to repay debt. As of March 31, 2023, the total debt of the company stood at ₹2,833 crore, which will come down to ₹1,730 crore, post listing of shares on the exchanges.

DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.

SAMHI Hotels listing

IPO listing: Zaggle opens flat; Samhi Hotels debuts at 7% premium