Zaggle Prepaid Ocean Services Limited has entered into a strategic 5-year agreement with Saurashtra Cement Limited to provide employee expense management and benefits solutions. The company disclosed this development to stock exchanges, in compliance with regulatory requirements under SEBI listing obligations.

Agreement Details

The comprehensive agreement outlines Zaggle's commitment to deliver its Zaggle Save platform to Saurashtra Cement Limited, focusing on employee expense management and benefits administration. This domestic contract represents a significant business expansion opportunity for the fintech services provider.

Regulatory Compliance

The agreement has been structured to ensure full compliance with corporate governance standards. Key compliance aspects include:

• No related party transaction involvement
• Arms-length commercial terms
• No promoter or group company interest in the contracting entity
• Full regulatory disclosure under SEBI listing obligations

Strategic Significance

This partnership demonstrates Zaggle's continued expansion in the corporate expense management sector. The 5-year duration provides long-term revenue visibility and strengthens the company's position in serving large industrial clients. The agreement specifically focuses on delivering Zaggle Save solutions, which encompass comprehensive employee expense management and benefits administration services.

The disclosure was made by Managing Director and Chief Executive Officer Avinash Ramesh Godkhindi, ensuring transparency with stakeholders and regulatory compliance. This development reflects Zaggle's ongoing efforts to expand its client base in the corporate sector while maintaining strict adherence to governance standards.

Zaggle Prepaid Ocean Services Limited has announced the incorporation of a wholly owned subsidiary, marking a significant step in its corporate expansion strategy. The fintech company has successfully established Zaggle Payments IFSC Limited in GIFT City, Gujarat, as part of its strategic growth initiative.

Regulatory Compliance and Official Communication

The company has formally notified the stock exchanges about this development through official communication dated February 26, 2026, bearing reference number ZAGGLE/25-26/162. This notification was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Development Timeline

The incorporation process represents the continuation of earlier intimation provided to the exchanges through letter number ZAGGLE/25-26/127 dated December 16, 2025. The Certificate of Incorporation was officially received from the Ministry of Corporate Affairs on February 25, 2026, completing the formal establishment process.

Strategic Positioning in GIFT City

The establishment of this IFSC-focused subsidiary in GIFT City positions Zaggle to leverage the special regulatory framework designed for international financial services. GIFT City serves as India's premier International Financial Services Centre, offering unique opportunities for cross-border financial operations and services.

Corporate Structure Enhancement

This subsidiary formation represents a strategic expansion of Zaggle's corporate structure, enabling the company to diversify its service offerings within the financial services sector. The wholly owned subsidiary structure provides complete operational control while allowing the company to explore new market opportunities in the international financial services domain.