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After raising INR 595 Cr via its maiden QIP in December last year, fintech SaaS company Zaggle’s board has now approved raising INR 59.99 Cr from preferential allotment of warrants.
In an exchange filing, the company said it will raise the capital via allotment of 10.58 Lakh warrants at INR 567 apiece to promoter group entity RAN Ventures Pvt Ltd and non-promoter group company and media conglomerate Bennett Coleman and Company Ltd (Times Group).
The company didn’t disclose how it plans to use the freshly raised funds, but it is pertinent to mention that Zaggle has been on an acquisition spree of late. Most recently, it announced plans to acquire golf-centric rewards platform Greenedge for INR 25 Cr.
In a separate development, Zaggle said yesterday that it has entered into an agreement to extend a loan of INR 15 Cr to Dice Enterprises for working capital requirements of the latter. The loan will be provided for a period of 12 months at an interest rate of 12% per annum in one or more tranches, repayable on demand.
Notably, Zaggle announced the acquisition of enterprise spend management startup Dice Enterprises for INR 123 Cr in June. Back then, Zaggle said that the acquisition will strengthen its product portfolio, give access to Dice’s customer base, and help it scale both in India and globally.
Besides, Zaggle has entered agreements to acquire UPI payments startup Rio.Money and increase stakes in Effiasoft and Mobileware Technologies this year.
Zaggle’s acquisition spree was charged by its maiden QIP which was completed in December. Back then, Zaggle had plans to touch a gross revenue of INR 2,000 Cr in FY26, along with a net profit of INR 200 Cr on the back of these acquisitions.
For the first quarter of the fiscal, Zaggle’s consolidated net profit surged 56% to INR 26.1 Cr in Q1 FY26 from INR 16.7 Cr in the year-ago quarter. Its top line surged 32% YoY to INR 252.2 Cr.
Zaggle’s shares were trading 1.29% higher at INR 344.95 as of 13:37.
The post Zaggle To Raise INR 60 Cr From Times Group, Promoter Group Entity appeared first on Inc42 Media.
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