Shares of this smallcap company jumped around 3 percent in Friday’s trading session after entering into an agreement with Hero Motocorp Limited for employee expenses and benefits. The shares have delivered more than 85 percent returns to its shareholders in one year. 

Price Movement: 

With a market capitalization of Rs. 3,668 crores, the shares of Zaggle Prepaid Ocean Services Ltd started Friday’s trading session on a flatter note at Rs. 294.30 compared to its previous close of Rs. 292.90. During the trading session, the shares hit a high of Rs. 305, gaining around 3 percent and are currently trading at Rs. 299 apiece. 

What Happened: 

Such a positive movement in the share price was observed after the company in an exchange filing announced that it had entered into an agreement with Hero Motocorp Limited. 

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According to the agreement, Zaggle will offer Hero Motocorp Limited Zaggle Save, a service for managing employee expenses and benefits, effective from July 4, 2024, until the agreement’s mutually agreed termination date. 


Looking at the company’s financial statements, the revenue jumped by 37 percent from Rs. 200 crores during the December quarter to Rs. 273 crores in the March quarter. In addition, the net profits zoomed by 27 percent from Rs. 15 crores to Rs. 19 crores during the same period. 


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. 

Customer Base: 

The company holds the leading position for the issuance of prepaid cards in India, with 50+ million cards issued. 

Further, it has a 16 percent market share by transaction value and has a strong business network with some notable key players such as Kotak Mahindra Bank, Visa, ICICI Bank, Yes Bank, DBS Bank, and others. Some of the key customers include Tata Steel, Greenply, Persistent Systems, and others. 

Prominent Investors: 

According to the BSE data, Ace Investor Mr Ashish Kacholia, entering the stock in September 2022, currently holds around 27.03 lakh equity shares equivalent to a 2.37 percent stake in this company. The current holding value of his investment amounts to Rs. 86.8 crores. 

Company Profile: 

Headquartered in Mumbai, Zaggle Prepaid Ocean Services was incorporated in 2011. The company specializes in providing solutions for expense management, employee tax benefits, rewards and recognition programs, corporate gifting, and incentives. 

Written By Vaibhav Patil



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