Zaggle Prepaid Ocean Services Incorporates Wholly-Owned Subsidiary in GIFT City

Zaggle Prepaid Ocean Services Limited ("Zaggle"), India's leading spend management and SaaS-led FinTech company, today announced that it has incorporated a wholly-owned subsidiary, "Zaggle Payments IFSC Limited" in GIFT City, Gujarat.

The new subsidiary will operate as a SaaS-led FinTech company, offering advanced spend management solutions to corporates and their users through a secure, digital-first platform. Zaggle's spend management tools enable organisations and CFOs to significantly reduce operational and compliance costs by eliminating the need for heavy in-house technology investments, automating financial workflows, and providing real-time visibility and control over spends. By leveraging a scalable SaaS model, the platform helps enterprises achieve greater efficiency, cost optimisation, and stronger financial governance across their operations.

Further, the subsidiary in GIFT City will be eligible for various tax exemptions, FEMA benefits and reduced regulatory compliance. The new company will be treated as an offshore entity, which allows it to conduct global financial operations smoothly.

Commenting on the development, Dr. Raj P. Narayanam, Founder & Executive Chairman, Zaggle, said: "The incorporation of a wholly owned subsidiary in GIFT City marks a decisive step in Zaggle's journey toward becoming a globally relevant SaaS FinTech platform. It enables us to engage international markets and partners from a world-class financial hub, while continuing to build innovation from India. This move positions Zaggle to scale globally, create long-term value and play a meaningful role in the next phase of global fintech growth."

Shares of Zaggle Prepaid Ocean Services Limited was last trading in BSE at Rs. 355.60 as compared to the previous close of Rs. 362.65. The total number of shares traded during the day was 13188 in over 481 trades.

The stock hit an intraday high of Rs. 362.80 and intraday low of 353.25. The net turnover during the day was Rs. 4709168.00.

Source : Equity Bulls

Keywords

ZagglePrepaidOceanServices INE07K301024 ITEnabledServices Subsidiary ZagglePaymentsIFSC GIFTCity