Zaggle to Acquire Rivpe Technology for ₹22 Crore and Invest ₹75 Crore
Zaggle to acquire Rivpe Technology for ₹22 Cr and invest ₹75 Cr, making Rivpe a wholly-owned subsidiary. The acquisition will expand Zaggle's product offerings and customer base.
The acquisition and investment are significant, but the full impact will depend on the successful integration and performance of Rivpe.
The acquisition and investment are strategic moves that can potentially expand Zaggle's business and product offerings.
* Zaggle Prepaid Ocean Services Limited approved the acquisition of 81,429 Equity Shares and 16,407 Compulsory Convertible Preference Shares of Rivpe Technology Private Limited for up to ₹22 Crore. * The acquisition represents 100% of Rivpe's issued and paid-up capital on a fully diluted basis. * Zaggle will also invest up to ₹75 Crore in Rivpe in one or more tranches. * Rivpe will become a wholly-owned subsidiary of Zaggle upon completion of the acquisition. * Rivpe is a fintech company specializing in UPI payments and co-branded consumer credit cards. * The acquisition is expected to expand Zaggle's product offerings and customer base, facilitating entry into the consumer credit card market. * The indicative time period for completion of the acquisition is 120 days. * Rivpe's turnover for FY25 was ₹0.98 Crore and ₹0.13 Crore for FY24.
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Zaggle Prepaid Ocean Services Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. 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.