Zaggle Shares Soar 5% During Intraday

SUMMARY

Shares of Zaggle soared about 5% in the morning trade to INR 495.65 on the BSE today (February 5) compared to its previous close of INR 472.05 per share

The company’s shares are set for its best day since January 22, if current gains hold

Further, the stock has more than doubled in value in the past 12 months

Shares of the listed fintech SaaS major, Zaggle, soared about 5% in the morning trade to INR 495.65 on the BSE today (February 5).

The stock closed at INR 472.05 per share yesterday (February 4). 

Zaggle’s market capitalisation stands at INR 6,651.88 Cr ($763.4 Mn).

The company’s shares are set for its best day since January 22, if current gains hold.

Further, the stock has more than doubled in value in the past 12 months.

To note, the company’s stock last touched its all-time high at INR 522 per share on the BSE, about two months ago.

Founded in 2011 by Raj P Narayanam, Zaggle provides a spend management platform for businesses, along with an employee benefits platform. It has a diversified portfolio of SaaS products, including tax and payroll software.

The company claims to have issued 50 Mn prepaid cards in India via partner banks and serves over 3 Mn users.

Having raised nearly INR 595 Cr via qualified institutional placement (QIP), in December last year, a source told Inc42 that the company is eyeing three more investments and acquisitions by March 2025 to expand its offerings and top line.

The investments and acquisitions will help Zaggle reach INR 2,000 Cr gross revenue and INR 150 Cr to INR 200 Cr net profit in FY26.

Following which, Zaggle has been signing partnerships with various industry players to offer its solutions since the start of this year.

Zaggle is set to report its financial results for the third quarter of FY25 on Friday (February 7).

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