Zaggle Prepaid Ocean Services share price gained 6 percent in the early trade on September 26 as the company is set to acquire a controlling stake in an information technology services company.
At 10:10 am, Zaggle Prepaid Ocean Services was quoting at Rs 458.15, up Rs 26.30, or 6.09 percent, on the NSE.
The board of directors of Zaggle Prepaid Ocean Services at its meeting held on Wednesday, September 25, 2024, has approved the acquisition of 10,66,314 equity shares of face value of Rs 10 each at a price of Rs 300.80 per share (including a premium of Rs 290.80 per share) constituting 98.32 percent stake in Span Across IT Solutions, consequent to which Span Across will become a subsidiary of the company, following the completion of the procedural requirements.
The proposed acquisition gives opportunity to enter new segment of employee related business, company said.
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The board also approved the investment of Rs 15.6 crores for 26 percent ownership capital of Mobileware Technologies, a digital payments infrastructure company, on a post issue and fully diluted basis.
Mobileware is at the forefront of the digital payments innovation in India and they offer integrated product suite of NPCI certified switch solutions across UPI, IMPS, AEPS & BBPS, along with an API & Agency banking platform called Transxt.
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