Zaggle Prepaid Ocean Services Limited has informed the Exchange about Intimation of Investment in Rivpe Technology Private Limited
ZAGGLE · price
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Zaggle Prepaid Ocean Services Limited has invested approximately Rs. 50 crore (Rs. 49,99,99,939.92) in its wholly owned subsidiary, Rivpe Technology Private Limited (RTPL). The investment was made through a rights issue where RTPL allotted 3,42,147 equity shares of Rs. 10 face value each to Zaggle. Importantly, the company has clarified that this investment will not cause any change in its shareholding in RTPL, meaning RTPL remains a wholly owned subsidiary. This appears to be a capital infusion to support the subsidiary's operations or growth.
Since RTPL remains a wholly owned subsidiary with no change in ownership, the direct impact on Zaggle's standalone financials is limited to the outflow of Rs. 50 crore. Shareholders should monitor whether this capital strengthens RTPL's contribution to consolidated revenues.