Zaggle Prepaid Ocean Services Limited has informed the Exchange about General Updates
ZAGGLE · price
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 1.2 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Zaggle Prepaid Ocean Services has agreed to acquire 100% of Greenedge Enterprises Private Limited for a total consideration of Rs. 27 Crores. Greenedge operates in the loyalty experiences and rewards space with a focus on golf-based corporate engagement and had a turnover of Rs. 19.82 Crores in FY24, up from Rs. 13.67 Crores in FY23 and Rs. 7.28 Crores in FY22, showing strong growth. The deal is currently at a non-binding term sheet stage (signed June 5, 2025), with the mode of payment (cash or share swap) yet to be decided by the Board. The acquisition is not a related party transaction, and completion is targeted within 90 days of board approval.
The acquisition strengthens Zaggle's loyalty, rewards, and travel offerings, boosting its Propel product line. A 100% buyout at Rs. 27 Crore for a company with ~Rs. 20 Crore turnover looks reasonably priced, but key details like payment mode and definitive agreement terms are still pending, which will shape near-term shareholder impact.