Zaggle Prepaid Ocean Services to Incorporate Wholly Owned Subsidiary in GIFT City
Zaggle Prepaid Ocean Services Limited will incorporate a wholly-owned subsidiary, ZAGGLE PAYMENTS IFSC LIMITED, in GIFT City. The new entity will focus on SaaS Fintech solutions for corporate spend management. The authorized share capital is ₹15,00,000, with Zaggle acquiring 100% shareholding via cash consideration.
The incorporation of a subsidiary in GIFT City is a strategic move that could lead to future business growth in the fintech sector, but the immediate financial impact is not quantifiable.
The announcement is a routine corporate action regarding the incorporation of a subsidiary. While it signals expansion, there are no immediate financial gains or losses mentioned.
Zaggle Prepaid Ocean Services Limited announced that its Board of Directors, in a meeting held on December 16, 2025, approved the incorporation of a wholly-owned subsidiary in Gujarat International Finance Tec-City (GIFT City). The new entity will be named ZAGGLE PAYMENTS IFSC LIMITED.
The proposed subsidiary will be a SaaS Fintech Company focused on providing spend management solutions to corporates and their users through its online platform. The authorized share capital of the new entity will be ₹15,00,000, divided into 1,50,000 equity shares of ₹10 each. The incorporation is subject to approvals from the International Financial Services Centres Authority (IFSCA), the Ministry of Corporate Affairs, and other relevant regulatory bodies. The subscription of shares in the proposed subsidiary will be through cash consideration, with Zaggle Prepaid Ocean Services acquiring 100% shareholding. The company will provide further updates once the subsidiary is incorporated.
The Board meeting commenced at 12:30 P.M. (IST) and concluded at 12:50 P.M. (IST).
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Zaggle Prepaid Ocean Services Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Zaggle Prepaid Ocean Services Limited. Read the original for the full detail.