Kedia Securities Private Limited, owned by investor Vijay Kishanlal Kedia, has acquired a 1.48 per cent stake in Zaggle Prepaid Ocean Services Limited through a block transaction.
According to the details available, the firm purchased 20 lakh shares of the enterprise spend management solutions provider for a total consideration of ₹33 crore. The shares were acquired at a price of ₹164.72 per share.
Commenting on the development, a statement issued by Zaggle on Wednesday noted that the investment coincides with the company's ongoing expansion of its artificial intelligence-led enterprise spend management platform. The platform focuses on corporate spend management and payment solutions.
Zaggle Prepaid Ocean Services Limited specializes in providing digital spend management solutions to corporate clients, helping businesses streamline their expenses and payment workflows. The entry of a notable market investor like Vijay Kishanlal Kedia marks a significant financial transaction for the company as it continues to scale its operations within the corporate payments sector.
"The acquisition of a 1.48% stake by Kedia Securities in Zaggle highlights growing institutional and investor interest in the enterprise spend management and corporate payments sector. As companies increasingly digitize their financial workflows and adopt AI-driven platforms, strategic investments of this scale reflect confidence in the long-term growth potential of B2B SaaS and fintech infrastructure businesses operating in the Indian market." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
