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Zaggle Shares Surge Over 12% After Vijay Kedia’s Firm Buys 1.48% Stake

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Zaggle Shares Surge Over 12% After Vijay Kedia’s Firm Buys 1.48% Stake

Shares of Zaggle Prepaid Ocean Services surged 12.15% on the BSE today after veteran investor Vijay Kedia’s broking company Kedia Securities acquired a 1.48% stake in the fintech SaaS company. 

Kedia Securities bought 20 Lakh shares for around ₹32.94 Cr through a bulk deal yesterday. The shares were purchased at ₹164.72 apiece. 

Following this, Zaggle shares zoomed nearly 18% to touch an intraday high at ₹195.70 today.

The bulk deal came after Zaggle shares faced heavy selling earlier this week following the disclosure of its financial results for the June quarter of the financial year 2026-27 (Q1 FY27) after market hours on August 14 (Friday). The stock slumped 20% on August 17 (Monday). 

The company also informed the exchanges on August 15 (Saturday) that the Commissioner of Income Tax (Appeals) had dismissed its appeal against a ₹4.09 Cr income-tax demand for assessment year 2022-23. 

The I-T department had disallowed certain items, including carry-forward losses, bad debts, and Ind AS adjustments. 

Zaggle reported a 33% YoY and 57% QoQ decline in its consolidated net profit to ₹17.5 Cr in Q1 FY27. Operating revenue rose 28% YoY but declined 32% sequentially to ₹423.3 Cr. 

The company said its EBITDA margin declined due to elevated expenses related to its acquisition of enterprise spend management startup Dice Enterprises in May. 

Zaggle acquired the Pune-based startup’s assets and intellectual property for ₹68 Cr. It said revenue from Dice’s contracts would begin reflecting in its financials from Q2 FY27.

Money.



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