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.

Zaggle Prepaid Ocean Services Limited has made a significant investment in its wholly-owned subsidiary Rivpe Technology Private Limited, strengthening its strategic position in the fintech and technology sector. The company informed stock exchanges about this development on April 02, 2026.

Investment Details

The investment transaction involved substantial financial commitment from Zaggle Prepaid Ocean Services Limited as part of its strategic expansion in the fintech business:

Strategic Fintech Expansion

This investment represents Zaggle's commitment to expanding its fintech business operations through its subsidiary. The company has acquired a strategic stake that will enable it to leverage Rivpe Technology's capabilities in the rapidly growing financial technology sector. The investment aligns with Zaggle's broader strategy to strengthen its position in digital payment solutions and financial services.

Shareholding Structure

The company has clarified that this investment will not result in any changes to the existing shareholding pattern. Rivpe Technology Private Limited will continue to operate as a wholly-owned subsidiary of Zaggle Prepaid Ocean Services Limited. This structure maintains the parent company's complete control over the subsidiary's operations and strategic direction.

Regulatory Compliance

Zaggle Prepaid Ocean Services Limited made this disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced its previous intimation dated December 04, 2025, indicating this investment was part of a previously communicated strategic plan.

Corporate Communication

The formal intimation was signed by Hari Priya, Company Secretary and Compliance Officer of Zaggle Prepaid Ocean Services Limited. The communication was simultaneously sent to both the National Stock Exchange of India Limited and BSE Limited, ensuring comprehensive disclosure to all relevant stakeholders and maintaining transparency in corporate governance practices.