Zaggle Prepaid Ocean Services Ltd to invest in Mobileware Technologies Pvt Ltd

The Board of Directors of Zaggle Prepaid Ocean Services Limited (Company) at its meeting held today i.e. Wednesday, September 25, 2024, has, approved the Investment of Rs. 15.6 Crores for 26 percent ownership capital of Mobileware Technologies Private Limited on a post issue and fully diluted basis.

Mobileware is at the forefront of the digital payments innovation in India and they offer integrated product suite of NPCI certified switch solutions across UPI, IMPS, AEPS & BBPS, along with an API & Agency banking platform called Transxt. Zaggle would be able to leverage their expertise and infrastructure to make our solutions and embedded payment experiences best-in-class for our esteemed clientele. We would also be able to co-create multiple use-cases for our customers while keeping payments at the forefront through Lending stack, Credit solutions, Card Management Services etc.

The proposed acquisition is contingent upon the execution of the final agreement and the fulfilment or waiver of the conditions precedent, as mutually agreed upon by the parties.

Shares of Zaggle Prepaid Ocean Services Limited was last trading in BSE at Rs. 431.90 as compared to the previous close of Rs. 443.15. The total number of shares traded during the day was 115663 in over 3422 trades.

The stock hit an intraday high of Rs. 444.90 and intraday low of 430.20. The net turnover during the day was Rs. 50297733.00.

Source : Equity Bulls

Keywords

ZagglePrepaidOceanServices INE07K301024 ITEnabledServices Investment MobilewareTechnologies