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.

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.