Zaggle Allots 2.29 Lakh Equity Shares Under ESOP Plan

Zaggle Allots 2.29 Lakh Equity Shares Under ESOP Plan

SUMMARY

Zaggle announced that the company's board approved the allotment of 2,29,134 equity shares having face value of INR 1 each

The company set the exercise price at INR 1 for its 1,28,600 equity shares and INR 164 for 1,00,534 equity shares

In a separate filing, Zaggle announced to raise securities worth INR 9500 Mn (INR 950 Cr)

Fintech SaaS startup Zaggle has alloted nearly 2.29 Lakh equity shares under its Employee Stock Option Scheme (ESOP) 2022.

In an exchange filing, the Mumbai-based startup today (October 30) said it has received approval from its board to grant the equity shares to eligible employees under the 2022 scheme.

It has, “approved the allotment of 2,29,134 equity shares having face value of INR 1 each, as fully paid-up, to the eligible employees, upon exercise of vested options,” said Zaggle in its statement. 

In a separate filing, Zaggle announced to raise securities worth INR 9500 Mn (INR 950 Cr) in accordance with the SEBI ICDR Regulations and other applicable regulations, subject to necessary approvals. 

For its newly allotted equity shares, the company set the exercise price at INR 1 for 1,28,600 equity shares and INR 164 for 1,00,534 equity shares. 

Based on the stock’s closing price on Tuesday (October 29), the total value of the 2.29 Lakh equity shares translated to INR 10.09 Cr.

After the allotment of aforementioned equity shares, the issued, subscribed and paid-up equity share capital of the company increased from INR 12,26,06,799 to INR 12,28,35,933. 

Founded in 2011 by Raj Narayanam, Zaggle offers spend management solutions for businesses as well as other SaaS tools such as expenses, payments, and rewards management software. 

Earlier this month, Zaggle allocated 44,161 additional stock options under its ESOP 2022. In September, Zaggle picked up stakes in two companies – Span Across IT Solutions and Mobileware Technologies. While it acquired a 26% stake in Mobileware Technologies for INR 15.6 Cr, it also received board nod to pick up 98.32% shareholding in Span Across IT Solutions for nearly INR 32 Cr.

You have reached your limit of free stories
This Diwali, Get Up To 72% Off On Inc42 Plus

Become A Startup Insider With Inc42 Plus

Offer Fading Away This Week
countdownmail.com
2 YEAR PLAN
₹19999
₹6999
₹291/Month
UNLOCK 65% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹3999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Zaggle Allots 2.29 Lakh Equity Shares Under ESOP Plan-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Zaggle Allots 2.29 Lakh Equity Shares Under ESOP Plan-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Zaggle Allots 2.29 Lakh Equity Shares Under ESOP Plan-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Zaggle Allots 2.29 Lakh Equity Shares Under ESOP Plan-Inc42 Media
Zaggle Allots 2.29 Lakh Equity Shares Under ESOP Plan-Inc42 Media
You’re in Good company