Zaggle Prepaid inks 5-year referral agreement with Standard Chartered Bank

Zaggle Prepaid Ocean Services on August 27 announced that it has entered into an agreement with Standard Chartered Bank to provide its services to the corporate customers referred by the lender.

In an exchange filing released on August 27, Zaggle Prepaid said that the domestic contract is a referral agreement. As part of the deal, Zaggle will act as a solution provider by making its services available to corporate customers referred by Standard Chartered Bank. The agreement has been signed for a period of five years.

Zaggle shares dropped more than 3 percent to close at Rs 398 apiece on August 26. The stock has so far recovered more than 33 percent after hitting a 52-week low of Rs 298.65 apiece in April this year. It is however still 33 percent lower than its 52-week high of Rs 591.90 apiece, which it had hit in December last year.

The stock gained nearly 8 percent in the past one month, and around 15 percent in the past six months. However, it is down 27 percent in 2025 so far. The stock currently has a P/E ratio of more than 55.