RAN Ventures Private Limited, a promoter group entity, has acquired 30,000 equity shares of Zaggle Prepaid Ocean Services Limited through open market transactions. The acquisition was completed in two separate purchases of 15,000 shares each on February 20, 2026 and February 23, 2026.

Transaction Details

The share purchase has resulted in a marginal increase in RAN Ventures' shareholding in Zaggle Prepaid Ocean Services Limited. The acquisition details are presented below:

Regulatory Compliance

RAN Ventures Private Limited has submitted the mandatory disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 to both stock exchanges where Zaggle shares are listed. The disclosure was filed on February 24, 2026, and signed by Raj P Narayanam, Director of RAN Ventures Private Limited.

Company Information

Persons Acting in Concert

The disclosure identifies several Persons Acting in Concert (PAC) with RAN Ventures Private Limited, including Raj P Narayanam, Avinash Ramesh Godkhindi, Quadigo Ventures LLP, and Sumedha Rao. RAN Ventures Private Limited is registered in Hyderabad with CIN U62099TS2024PTC189595.

The acquisition represents a routine promoter group transaction that maintains the existing shareholding pattern with minimal change in the overall ownership structure of Zaggle Prepaid Ocean Services Limited.

Zaggle Prepaid Ocean Services Limited delivered its strongest quarterly performance to date in Q3 FY26, demonstrating robust growth across all key financial metrics during its earnings call held on February 12, 2026.

Record Quarterly Performance

The company reported exceptional financial results for Q3 FY26, showcasing significant year-on-year improvements across revenue, profitability, and operational metrics.

The revenue of INR 498 crores fell just INR 2 crores short of the INR 500 crores milestone, while the company achieved its first-ever quarterly adjusted EBITDA exceeding INR 50 crores. PAT margins improved to 7.2%, reflecting enhanced operational efficiency and cost management.

Nine-Month FY26 Achievements

For the nine-month period ending December 31, 2025, Zaggle demonstrated sustained momentum with revenues reaching INR 1,260 crores, representing 41% year-on-year growth. The company's adjusted EBITDA stood at INR 128 crores, marking a 48% increase, while PAT surged to INR 95 crores with remarkable 71% growth.

Notably, the nine-month cash PAT has already surpassed the full-year FY25 performance, highlighting the company's accelerated profitability trajectory.

Strategic Acquisitions and Expansion

Zaggle completed its acquisition of Rio.money, now rebranded as ZAG.money, establishing a fourth monetization pillar targeting its captive base of 3.7 million active users. The company has earmarked a primary capital infusion of over INR 100 crores to accelerate revenue growth in this segment, with a target of INR 500 crores within the next 4-5 years.

Existing acquisitions continued delivering strong performance:

AI Integration and Operational Excellence

The company highlighted significant progress in AI implementation, transitioning from discussing potential to validating real-world applications. Zaggle has launched Agentic AI workflows designed to independently execute complex tasks including vendor reconciliation, tax compliance monitoring, and spend approval automation.

The AI integration has dramatically improved operational efficiency, reducing product development cycles from 75+ days to under 30 days. This acceleration enables faster response to customer needs and enhanced competitive positioning in the market.

Business Development and Partnerships

During Q3 FY26, Zaggle secured several marquee clients including Senco Gold, BIBA Fashion, Capital Small Finance Bank, Sesa Care, Mahindra Holidays, and Rashi Chemicals and Fertilizers. The company strengthened its partnership ecosystem by signing a 7-year agreement with Visa for co-branded domestic prepaid cards and a 5-year contract with Mastercard for credit cards with spend-linked incentives.

International Expansion Plans

The Board approved incorporation of a wholly-owned subsidiary in GIFT City, Zaggle Payments IFSC Limited, to expand global cross-border payments capabilities. The company is finalizing establishment of operations in Abu Dhabi as a base for MENA region expansion, supported by engagement with UAE government stakeholders including the Minister of State for Artificial Intelligence.

Financial Outlook and Guidance

Management confirmed expectations for working capital breakeven in FY26 and positive operating cash flow generation in FY27. The company maintains its long-term guidance of achieving $1 billion revenue with 14-15% adjusted EBITDA margins within 5-7 years. ESOP costs are expected to rationalize to INR 3-4 crores annually from the next fiscal year.