Zaggle Prepaid Ocean Services has secured ₹595 crore through a Qualified Institutional Placement (QIP), selling 11.37 million shares at ₹523.20 each, reflecting a 5% discount on the floor price. Among the buyers, Bank of India emerged as the largest, acquiring 16.8% of the offering, followed by Societe Generale with a 9.2% stake. Domestic funds, including ICICI Prudential AMC Ltd Technology Fund and Nuvama Wealth Enhanced Dynamic Growth Equity Fund, each picked up 6.7%.
The fundraise follows Zaggle's recent ₹48 crore investment to acquire a 98.32% stake in TaxSpanner and a 26% stake in Mobileware Technologies, bolstering its fintech capabilities.
For Q2 FY25, Zaggle reported a revenue of ₹302.55 crore, marking a 64.2% year-on-year increase, with net profit surging 167.7% to ₹20.29 crore. The company has ambitious plans for mergers and acquisitions in the SaaS fintech sector, focusing on NBFCs and payments. Board approval has been granted to raise an additional ₹950 crore for expansion.
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Source : Startupro.in

Zaggle Prepaid Ocean Services has secured ₹595 crore through a Qualified Institutional Placement , selling 11.37 million shares at ₹523.20 each, reflecting a 5% discount on the floor price

Zaggle Prepaid Ocean Services Raises ₹595 Crore via QIP, Targets Fintech Expansion