Zaggle Prepaid Ocean Services Limited has informed the Exchange regarding Board meeting held on September 29, 2025. for Investment and acquisition of stake in Greenedge Enterprise Private Limited
ZAGGLE · price
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Awaiting price reaction for this filing.
Zaggle's board, on September 29, 2025, approved acquiring 100% of Greenedge Enterprises Private Limited by purchasing 1,30,000 equity shares for up to Rs. 25 Crores from existing shareholders, along with a further investment of up to Rs. 25 Crores via share subscription, taking the total deal value to up to Rs. 50 Crores. Greenedge operates in the loyalty, rewards and golf-based corporate engagement space and reported a turnover of Rs. 19.82 Crores in FY24, up from Rs. 13.67 Crores in FY23 and Rs. 7.28 Crores in FY22. The acquisition is not a related party transaction, will be fully in cash, and is expected to be completed within 45 days. Zaggle said the deal strengthens its Propel platform by adding loyalty, rewards and travel offerings.
Shareholders should note a strategic bolt-on acquisition that expands Zaggle's loyalty and rewards business, with the deal size (up to Rs. 50 Crores) being meaningful but funded entirely in cash. Short-term stock reaction may depend on market perception of the acquisition price relative to Greenedge's Rs. 19.82 Crore revenue base and future integration benefits.