Multibagger IPO: Zaggle Prepaid Ocean share price has surged 250% from its IPO price of ₹164 within 15 months following its debut on September 22, 2023. According to sources cited by CNBC-TV18, Zaggle Prepaid Ocean is expected to initiate a ₹950 crore Qualified Institutional Placement (QIP) in the next two weeks. This QIP may result in an equity dilution of 15-16% at a price range of ₹500-520 per share. The funds raised are likely aimed at supporting inorganic growth and strategic investments.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Zaggle Prepaid Ocean share price have shown an impressive uptrend since listing, with the weekly chart forming a higher top-higher bottom structure, reflecting a strong bullish undertone. While the past two sessions have witnessed a slight correction from higher levels, the positive sentiment remains intact.
“Dips can be viewed as buying opportunities, with the 20-day EMA near 520 serving as a robust support level. A pullback towards this level could present an entry point, with immediate resistance seen at 600, followed by 650,” advised Bhosale.
However, Zaggle Prepaid Ocean share price on Thursday’s session slumped nearly 5%, trading at ₹553.50 per share on BSE. Zaggle Prepaid Ocean share price opened at an intraday high of ₹573, the stock touched an intraday low of ₹547.20 apiece.
