Zaggle Shares Up 5% After BOI Enlists It For User Management

Listed fintech SaaS major Zaggle Prepaid Ocean Services Limited’s shares have jumped almost 5% to INR 380.95 apiece during the intraday trading session on the BSE today (February 13).

The stock was last up nearly 2% at INR 369.95 per share, as of 02:21 PM, on the BSE, compared to its previous close of INR 362.85 from yesterday (February 12).

The company has been empanelled by Bank of India for user onboarding with KYC (Know Your Customer) validation, prepaid card issue program, card, user, transaction and preferences management via mobile app interface, as per Zaggle’s regulatory filing.

The term shall commence on February 11 and shall continue for the period of two years, the filing further said.

It is to note that after ending the last two consecutive trading sessions in red, the stock is set on its revival run, if current gains hold.

In the last five trading sessions alone, Zaggle’s shares have lost 25.3% in value. However, in the broader preview, the stock has gained almost 48% in the last 52-weeks.

Market capitalisation of the company currently stands at INR 4,964.92 Cr.

This development comes days after the listed fintech SaaS company’s board approved the acquisition of an additional 16.67% stake in digital payments service provider Mobileware Technologies Private Limited in a cash deal without disclosing the financial terms.

In terms of financial performance, Zaggle’s net profit jumped 30% to INR 19.74 Cr in Q3 FY25 from INR 15.22 Cr in the year-ago quarter, while its revenue from operations surged 69% to INR 336.89 Cr in the quarter under review from INR 199.51 Cr, a year ago.