Zaggle Prepaid Ocean Services Limited , a fintech company specializing in corporate expense management solutions, has entered into a strategic agreement with Hitachi Cash Management Services Private Limited. The deal, which spans three years, will see Zaggle providing its Zaggle Propel service to Hitachi Cash Management Services.

Key Details of the Agreement

Significance of the Deal

This partnership marks a significant milestone for Zaggle as it expands its client base to include a prominent player in the cash management services sector. Hitachi Cash Management Services, a subsidiary of the global conglomerate Hitachi, is known for its innovative solutions in cash and digital payment management.

The Zaggle Propel service, which will be provided under this agreement, is likely to enhance Hitachi's cash management capabilities. While specific details about Zaggle Propel were not disclosed, it is expected to align with Zaggle's core competencies in expense management and prepaid solutions.

Corporate Governance and Transparency

In compliance with regulatory requirements, Zaggle has promptly disclosed this agreement to the stock exchanges. The company has confirmed that the deal does not fall under related party transactions and that there is no interest from promoters or group companies in Hitachi Cash Management Services.

Leadership Involvement

The agreement was signed by Avinash Ramesh Godkhindi, the Managing Director and Chief Executive Officer of Zaggle, underscoring the strategic importance of this partnership for the company.

Market Implications

While the financial terms of the deal were not revealed, this collaboration with a subsidiary of a global technology leader could potentially boost Zaggle's market position and credibility in the fintech space. It may also open doors for further expansion and partnerships in the cash management sector.

As the fintech landscape continues to evolve, partnerships between innovative service providers like Zaggle and established players like Hitachi Cash Management Services are likely to shape the future of financial technology solutions in India.

Investors and industry observers will be keen to see how this partnership unfolds and what impact it may have on Zaggle's growth trajectory in the coming years.

Zaggle Prepaid Ocean Services Limited , a prominent player in the prepaid services sector, conducted an Extraordinary General Meeting (EGM) on October 31, 2025, to address a significant fundraising initiative. The meeting, held via video conferencing, was attended by 48 members and focused on the issuance of convertible warrants on a preferential basis.

Key Highlights of the EGM

• Fundraising Goal: The company aims to raise up to Rs. 59.99 crores through the issuance of convertible warrants.
• Fund Utilization: The raised capital is earmarked for:
  1. Brand building and marketing initiatives
  2. Working capital requirements
  3. General corporate purposes

Meeting Details

Voting Process

The company provided a comprehensive voting process to ensure fair participation:

• Remote E-voting: Available from October 28-30, 2025
• Cut-off Date: October 24, 2025 (for determining voting rights)
• During EGM: Electronic voting facility for 15 minutes post-meeting

Resolution Details

The meeting concluded at 11:10 AM (IST), with the Chairman expressing gratitude to all attending members. As per regulatory requirements, the consolidated voting results are expected to be declared within two working days of the EGM's conclusion. These results, along with the scrutinizer's report, will be submitted to the stock exchanges and made available on the company's website.

This strategic move by Zaggle Prepaid Ocean Services Limited to raise funds through convertible warrants indicates the company's focus on growth and expansion. The allocation of funds towards brand building, marketing, and working capital suggests a balanced approach to enhancing market presence while maintaining operational efficiency.