Zaggle Prepaid Ocean Services Limited — Important, 14-08-2025: General Updates

Zaggle's latest reports detail IPO and QIP fund utilization for Q1 FY26. From the Rs. 392 Cr IPO, Rs. 237.17 Cr was used for customer acquisition and Rs. 14.38 Cr for tech development. The monitoring agency noted delays in deploying IPO funds for all objectives, potentially impacting project viability. Regarding the Rs. 594.84 Cr QIP, Rs. 58.84 Cr went into strategic investments, and borrowings were repaid. Notably, Rs. 1.70 Cr of QIP issue expenses were reclassified to General Corporate Purposes. Substantial unutilized funds (Rs. 88.79 Cr from IPO, Rs. 454.46 Cr from QIP) are held in fixed deposits. Investors should monitor execution speed on growth initiatives.