Zaggle Prepaid Ocean Services Ltd acquires stake in Span Across IT Solutions Pvt Ltd

The Board of Directors of Zaggle Prepaid Ocean Services Limited ("Company") at its meeting held on Wednesday, March 27, 2024, at 12.30 p.m., has, approved the acquisition of 9,00,000 Equity Shares of face value of Rs. 10/- each at a price of Rs. 275/- per share (including a premium of Rs. 265/- per share) constituting 45% stake in Span Across IT Solutions Private Limited ("Span Across"/ "Target Company") Consequent to which Span Across will become an associate of the Company, following the completion of the procedural requirements.

Span Across deals in online income tax return preparation services and development of software. The proposed acquisition gives opportunity to enter new segment of employee related business.

Span Across will became an associate company with 45% stake and this will help in achieving inorganic growth which will benefit all the stakeholders associated with the Company including shareholders at large.

Shares of Zaggle Prepaid Ocean Services Limited was last trading in BSE at Rs. 292.90 as compared to the previous close of Rs. 277.70. The total number of shares traded during the day was 62440 in over 1930 trades.

The stock hit an intraday high of Rs. 299.00 and intraday low of 277.85. The net turnover during the day was Rs. 18066020.00.

Source : Equity Bulls

Keywords

ZagglePrepaidOceanServices INE07K301024 ITEnabledServices StakeAcquisition SpanAcrossITSolutions