Zaggle Prepaid Ocean Services Limited has informed the Exchange about General Updates
ZAGGLE · price
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Zaggle Prepaid Ocean Services has agreed to acquire 100% of Dice Enterprises Private Limited, a spend management platform, for a total consideration of Rs. 123 Crores. The deal is currently at a non-binding term sheet stage, signed on June 5, 2025, with definitive agreements and conditions precedent still pending. The target company reported a turnover of Rs. 6.32 Crores in FY24, up from Rs. 3.87 Crores in FY23 and Rs. 1.39 Crores in FY22, showing strong growth. The acquisition is expected to close within 90 days of board approval, and the mode of payment (cash or share swap) will be decided by the Board later. The deal is not a related party transaction and does not require governmental approvals.
This acquisition expands Zaggle's product offerings in spend management and adds a growing customer base, though the Rs. 123 Crore deal size is significant relative to Dice's small revenue base, suggesting the valuation is based on growth potential. Shareholders should watch for the final consideration mix (cash vs. share swap) and any potential equity dilution.