Zaggle Board Approves Strategic Investment of Up to ₹7.97 Crore in Unobanc to Bolster Cross-Border Payment Capabilities

Zaggle Prepaid Ocean Services Limited (NSE: ZAGGLE, BSE: 543985) announced that its Board of Directors has approved a strategic investment of up to ₹7.97 crore in Unobanc Private Limited. The decision was formalized during a board meeting held today between 11:00 AM and 12:45 PM IST.

Under the terms of the transaction, Zaggle will acquire up to a 19.9% equity stake in Unobanc Private Limited across one or more tranches, subject to the execution of definitive agreements.

Strategic Rationale and Acquisition Impact

The cash-funded investment aligns with Zaggle's broader strategy to expand its portfolio of financial solutions. By securing a minority position in Unobanc, Zaggle aims to strengthen its cross-border payment, foreign exchange (forex), and remittance capabilities. This integration will enhance Zaggle's ability to offer specialized forex solutions to corporate and retail customers beyond Indian borders.

The acquisition is structured purely as a cash consideration and does not fall under related party transactions. Neither Zaggle's promoters nor its group companies have any prior interest in Unobanc Private Limited. The transaction is expected to conclude within an indicative timeline of 90 days, with no additional government or regulatory approvals required.

Target Entity Profile and Financial Trajectory

Unobanc Private Limited, incorporated on January 24, 2019, operates in the cross-border payments and remittances sector in India as a wholly owned subsidiary of Hop Financial Solutions Limited. The company provides tech infrastructure designed for digital cross-border payments and remittances, delivering a streamlined, entirely digital user experience.

Unobanc holds a Fully Fledged Money Changing (FFMC) license and has received in-principle approval from the Reserve Bank of India (RBI) for an Authorised Dealer Category II license. Its issued share capital stands at ₹25,00,000, divided into 2,50,000 equity shares of ₹10 each.

Unobanc's audited financial trajectory reflects consistent top-line growth:

FY 2022-23: Turnover reached ₹14.40 crore with an EBITDA of ₹0.76 crore.

FY 2023-24: Turnover grew to ₹15.63 crore, while EBITDA stood at ₹0.05 crore.

FY 2024-25: Turnover expanded further to ₹17.40 crore, accompanied by an EBITDA of ₹1.37 crore.

Shares of Zaggle Prepaid Ocean Services Limited was last trading in BSE at Rs. 207.85 as compared to the previous close of Rs. 209.60. The total number of shares traded during the day was 28053 in over 537 trades.

The stock hit an intraday high of Rs. 210.55 and intraday low of 205.00. The net turnover during the day was Rs. 5826389.00.

Source : Equity Bulls

Keywords

ZagglePrepaidOceanServices INE07K301024 ITEnabledServices StrategicInvestment Unobanc