Zaggle Prepaid Ocean Services Inks Agreement with SMC Global Securities for Employee Benefits Solutions

1 min read     Updated on 06 Oct 2025, 01:59 PM
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Overview

Zaggle Prepaid Ocean Services Limited has formed a strategic partnership with SMC Global Securities Limited to provide employee expense management and benefits solutions. The agreement, starting October 6, 2025, focuses on two key propositions: Zaggle Zoyer and Zaggle Save. This open-ended partnership is domestic in nature and not a related party transaction. The collaboration aims to enhance SMC Global Securities' employee expense management systems and potentially streamline processes.

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*this image is generated using AI for illustrative purposes only.

Zaggle Prepaid Ocean Services Limited (Zaggle) has announced a strategic partnership with SMC Global Securities Limited, marking a significant move in the employee benefits sector. The agreement, disclosed in a regulatory filing, outlines Zaggle's commitment to providing innovative employee expense management and benefits solutions to SMC Global Securities.

Partnership Details

The collaboration between Zaggle and SMC Global Securities focuses on two key propositions:

  1. Zaggle Zoyer
  2. Zaggle Save

Both solutions are designed to enhance employee expense management and benefits systems, potentially streamlining processes and improving employee satisfaction at SMC Global Securities.

Key Terms of the Agreement

Aspect Details
Commencement Date October 6, 2025
Duration Until terminated
Nature of Contract Domestic
Scope Employee expense management and benefits propositions
Related Party Transaction No

Implications for Zaggle

This partnership represents a strategic move for Zaggle in expanding its client base within the financial services sector. By securing SMC Global Securities as a client, Zaggle demonstrates the appeal of its employee benefit solutions to established players in the capital markets.

The agreement's open-ended duration suggests a long-term commitment from both parties, potentially leading to sustained revenue streams for Zaggle. However, the specific financial terms of the deal were not disclosed in the regulatory filing.

Market Position

For Zaggle, this partnership could strengthen its position in the competitive fintech and employee benefits market. It showcases the company's ability to attract large, reputable clients in the financial sector, which may lead to increased interest from similar organizations.

Conclusion

The collaboration between Zaggle Prepaid Ocean Services and SMC Global Securities represents a notable development in the employee benefits solutions space. As companies increasingly focus on enhancing employee experiences and streamlining expense management, partnerships like this one may become more common in the financial services industry.

Investors and market watchers will likely keep a close eye on how this partnership unfolds and its potential impact on Zaggle's market position and financial performance in the coming quarters.

Historical Stock Returns for Zaggle Prepaid Ocean Services

1 Day5 Days1 Month6 Months1 Year5 Years
+6.03%+3.74%-4.00%+12.28%-15.66%+127.53%
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Zaggle Prepaid Ocean Services to Raise ₹59.99 Crore Through Warrant Issue

1 min read     Updated on 03 Oct 2025, 12:07 PM
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Overview

Zaggle Prepaid Ocean Services Limited's board has approved the issuance of up to 10,58,201 warrants at ₹567 each, aiming to raise ₹59.99 crore. The warrants will be issued to both Promoter Group and Non-Promoter entities. Each warrant is convertible into one equity share with a face value of ₹1. The company has scheduled an EGM for October 31 to seek shareholder approval. Additionally, Zaggle has entered into a loan agreement to provide ₹15 crore to Dice Enterprises Private Limited for working capital purposes.

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*this image is generated using AI for illustrative purposes only.

Zaggle Prepaid Ocean Services Limited , a player in the prepaid services sector, has announced a significant move to bolster its financial position. The company's board has given the green light for a fundraising initiative through the issuance of warrants, aiming to secure ₹59.99 crore.

Warrant Issue Details

The board of Zaggle Prepaid Ocean Services has approved the issuance of up to 10,58,201 warrants, each priced at ₹567. This strategic decision was made during a board meeting held on October 3. The warrants will be issued on a preferential basis to both the Promoter Group and Non-Promoter entities.

Key Points of the Warrant Issue

  • Number of Warrants: Up to 10,58,201
  • Price per Warrant: ₹567 (including a premium of ₹566)
  • Total Fundraising Target: ₹59,99,99,967
  • Conversion Ratio: Each warrant is convertible into 1 fully paid-up equity share
  • Face Value of Resulting Shares: ₹1 per share

Investors and Regulatory Approval

The warrant issue will be directed towards two key investors:

  1. RAN Ventures Private Limited (Member of Promoter Group)
  2. Bennett Coleman and Company Limited (Non-Promoter)

This preferential allotment is subject to regulatory and statutory approvals, including the green light from the company's shareholders at an upcoming Extraordinary General Meeting (EGM).

Upcoming Extraordinary General Meeting

Zaggle Prepaid Ocean Services has scheduled an EGM for October 31. The meeting will be conducted through video conferencing or other audio-visual means, where the company will seek necessary approvals from its members for this fundraising initiative.

Regulatory Compliance

The company has emphasized that this move is in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The relevant date for this issue, as per SEBI regulations, has been set as October 1.

Additional Financial Move

In a separate development, Zaggle Prepaid Ocean Services has also entered into a loan agreement with Dice Enterprises Private Limited. The company will provide a loan of up to ₹15 crore to Dice Enterprises for working capital purposes. This 12-month loan carries an interest rate of 12% per annum and is repayable on demand.

These strategic financial moves by Zaggle Prepaid Ocean Services indicate the company's efforts to strengthen its capital base and support its business operations. Investors and market watchers will be keenly observing how these initiatives impact the company's growth trajectory in the coming months.

Historical Stock Returns for Zaggle Prepaid Ocean Services

1 Day5 Days1 Month6 Months1 Year5 Years
+6.03%+3.74%-4.00%+12.28%-15.66%+127.53%
Zaggle Prepaid Ocean Services
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