IT Stock held by Ace Investor Ashish Kacholia, which offers a diversified range of fintech and SaaS-based products and services jumped 3 percent in the day’s trade after ICICI Prudential Mutual Fund picked a stake in it.
With a market capitalization of Rs. 3,667 Crores, the shares of Zaggle Prepaid Ocean Services Limited were trading at Rs. 299.40 per equity share, up 1.25 percent from its previous day’s close of Rs. 295.70.
As per the block deal data available on NSE, ICICI Prudential Mutual Fund has picked 6.51 Lakh equity shares of Zaggle Prepaid Ocean Services Limited at Rs. 280 per equity share while Ventureast Proactive Fund LLC has sold 22.27 Lakh equity shares at Rs. 280.01 per share.
Zaggle Prepaid Ocean Services Limited offers a diversified range of fintech and SaaS products and services, to manage business expenses, track employee and channel partner rewards, incentives management, merchant gift card management, and many more.
It holds the leading position for issuance of prepaid cards in India, with 50+ million cards issued and it has a 16 percent market share by transaction value.
It has a strong business network with some notable key players such as ICICI Bank, Yes Bank Kotak Mahindra Bank, Visa, DBS Bank, Rupay and others. It has a strong customer base with 620+ customers and some key customers include Wirpo, Bennett Coleman, Tata Steel, Persistent Systems, Greenply, and others.
Ace Investor Ashish Kacholia holds a 2.37 percent stake in the company consisting of 29.03 lakh equity shares. He took entry into the company in the September 2023 Quarter, by purchasing a fresh stake of 1.50 percent consisting of an 18.29 percent stake.
Its revenue from operations grew by 45.98 percent from Rs. 187.26 Crores in Q4FY23 to Rs. 273.37 Crores in Q4FY24, accompanied by profits of Rs. 7.56 Crores to Rs. 19.16 Crores.
In terms of Return ratios, it has reported a return on equity(ROE) of 14.1 percent and a return on capital employed (ROCE) of 17.2 percent. It has reported a debt to equity ratio of 0.15.
Written by: Bharath K.S
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