Mumbai, India: Zaggle Prepaid Ocean Services Limited (“Zaggle”), one of India’s leading spend management and SaaS-led FinTech companies, has announced that its Board of Directors has approved the allotment of 1,058,201 convertible warrants on a preferential basis. The approval follows the shareholder nod received at the Extraordinary General Meeting held on October 31, 2025, along with in-principle clearances from the stock exchanges. The preferential issue is part of a capital infusion earlier announced by the Promoter Group and Bennett Coleman and Company Limited (BCCL), and aligns with Zaggle’s long-term strategic growth plans.
The warrants have been issued at an issue price of ₹567 per warrant in accordance with SEBI’s Issue of Capital and Disclosure Requirements (ICDR) Regulations, 2018. Of the total warrants allotted, 352,734 have been issued to RAN Ventures Private Limited, which is part of the promoter group, while 705,467 warrants have been allotted to BCCL, a non-promoter investor. The company said this dual infusion, comprising internal capital commitment from promoters and brand-led investment from a marquee media conglomerate, enhances both financial resilience and strategic positioning. The promoter group reiterated its belief that Zaggle remains significantly undervalued even at the current valuation and expressed intent to further increase its stake, underscoring confidence in the company’s long-term prospects and reinforcing shareholder alignment.
BCCL, known for partnering with some of India’s fastest-growing enterprises, brings a media-first investment approach aimed at accelerating brand equity, customer trust and category leadership. Its participation is expected to support Zaggle’s visibility and market expansion as the company continues to strengthen its presence in the enterprise spend management ecosystem.
Commenting on the development, Dr. Raj P. Narayanam, Founder and Executive Chairman of Zaggle, said the allotment of warrants reflects the continued confidence of stakeholders in the company’s long-term strategy, governance standards and growth trajectory. He noted that the proceeds from the preferential issue will bolster the company’s capital base and enable the execution of its strategic growth initiatives, while remaining firmly aligned with regulatory requirements and shareholder interests. According to him, the combined support of the promoters and BCCL provides a strong foundation of stability and credibility, while accelerating Zaggle’s momentum as it prepares for its next phase of expansion.
Zaggle said that its current position is strengthened by a combination of promoter-led conviction and external brand validation. This dual reinforcement enhances governance, alignment and market reach, supporting the company’s mission of delivering intelligent, AI-driven spend management solutions to enterprises across India.
