Zaggle Prepaid Ocean Services Limited has announced key changes in its leadership structure following a board meeting held on April 03, 2026. The company disclosed the resignation of its Chief Financial Officer and the appointment of an interim replacement to ensure operational continuity.

Leadership Transition Details

The board meeting, which took place from 6:30 PM to 07:15 PM on April 03, 2026, addressed critical personnel changes in the company's key managerial positions. The decisions were made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Venkata Aditya Kumar Grandhi submitted his formal resignation letter to the Board of Directors, citing personal reasons for his departure. The board took note of his resignation effective from the close of business hours on April 03, 2026. In his resignation letter, he expressed gratitude to the Board and management for their support during his tenure as Chief Financial Officer.

New Interim CFO Profile

Mr. Rajesh Tummalaganti brings substantial financial expertise to his new role as Interim Chief Financial Officer. He is a certified member of The Institute of Chartered Accountants of India, New Delhi, with over 20 years of professional experience in finance.

His career began with Ernst & Young, providing him with a strong foundation in financial practices. He subsequently worked extensively in the online gaming industry, serving as a trusted partner to boards, promoters, and audit committees. His expertise spans multiple areas including:

• Strategic decision-making in investments and mergers & acquisitions
• Governance and cost optimization initiatives
• Financial governance and risk management
• Investor relations and regulatory compliance
• Ind-AS reporting and transfer pricing
• Secretarial compliance and corporate governance

Updated Key Managerial Personnel

Following these changes, the company has provided updated contact details for its key managerial personnel as required under regulatory guidelines:

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI Listing Regulations, ensuring transparency in material events affecting the company. The company has submitted the necessary documentation to both the National Stock Exchange of India Limited and BSE Limited, including detailed annexures as required under SEBI regulations.

The formal communication was signed by Company Secretary and Compliance Officer Hari Priya and submitted with complete documentation including Annexure-A containing detailed information about both the outgoing and incoming personnel. The transition ensures continuity in the company's financial operations while the board conducts its search for a permanent Chief Financial Officer.

Zaggle Prepaid Ocean Services Limited has decided to abandon its proposed acquisition of Effiasoft Private Limited, marking a strategic shift in the company's expansion plans.

Board Decision Details

The company's Board of Directors convened on April 3, 2026, to reassess the strategic implications of the proposed transaction. Following deliberations, the board concluded that the acquisition no longer aligned with the company's strategic objectives and decided not to proceed with the deal.

Transaction Background

The proposed acquisition was initially communicated to the stock exchanges through a letter dated March 27, 2025, under reference number ZAGGLE/24-25/185. The company had planned to acquire a 51% stake in Effiasoft Private Limited, which would have given Zaggle majority control over the target entity.

Regulatory Compliance

Zaggle has informed both the National Stock Exchange of India Limited and BSE Limited about this development in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Hari Priya, Company Secretary and Compliance Officer, ensuring proper regulatory disclosure.

Strategic Reassessment

The board's decision reflects a careful evaluation of the company's strategic priorities and market conditions. By choosing not to proceed with the acquisition, Zaggle demonstrates its commitment to disciplined capital allocation and strategic focus on core business objectives.