Kacholia-backed Zaggle Prepaid IPO opens. Should you subscribe to the issue?

The initial public offer (IPO) of fintech SaaS player Zaggle Prepaid Ocean Services opened for subscription on Thursday. The issue, which looks to raise Rs 563 crore, closes on September 18.

Ahead of the issue opening, Zaggle garnered Rs 253.52 crore from 23 anchor investors at the upper price band of Rs 164 per equity share.