Ashish Kacholia’s portfolio small-cap IT stock; Company bags new orders worth Rs 76,56,80,000 from Kotak Mahindra Bank and Toshiba Software!

He brought at Rs 164 per share and today it is trading at Rs 224.20 per share, a gain of 61 points or 36.71 per cent.

Zaggle Prepaid Ocean Services Ltd has entered into various agreements. Here are the details:

Agreement No - 1: The company has entered into a cobrand agreement with Kotak Mahindra Bank Limited. This partnership is a win-win for both corporates and their employees. Corporates will benefit from a more streamlined and efficient way to manage their payroll and employee benefits, while employees will benefit from a wider range of benefits and more control over their finances. The order is worth Rs 76,00,00,000 in 3 years by conservative estimates.

Agreement No – 2: The company has entered into another agreement with Toshiba Software (India) Private Limited. The contract will be for 36 months. The subscription fee is Rs 149 per active user per month. Active users are any Toshiba employee who has submitted a report in each month. The minimum number of users is 250 per month. The per-user fee will increase by 5 per cent after each year. There is a one-time set-up fee of Rs 1,50,000. The order is worth Rs 56,80,000.

Earlier, the company Zaggle has signed a five-year agreement with Visa worth USD 200 million to issue Forex Cobrands Cards. Visa will pay Zaggle a launch bonus and incentives for Forex transactions. This partnership will allow Zaggle to sell forex cards to employees of its corporate clients.

On Friday, shares of this company plunged 0.18 per cent to Rs 224.40 per share with an intraday high of Rs 230.30 and an intraday low of Rs 222.05.

An ace investor, Ashish Kacholia brought 18,29,269 shares or 1.50 per cent stake in the company at Rs 164 per share aggregating to Rs 30 crore in the September quarter (Q2FY24) as per data available on BSE.

He brought at Rs 164 per share and today it is trading at Rs 224.20 per share, a gain of 61 points or 36.71 per cent.

About the Company

Zaggle is a fintech company founded in 2011 that provides automated and innovative solutions to help businesses manage their expenses. The company offers a range of fintech and SaaS products and services to corporates in a variety of industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile.

Zaggle has a market cap of Rs 2,740 crore. In FY23, the company's net sales increased by 49.80 per cent to Rs 553.46 crore, while its EBITDA decreased by 19.64 per cent to Rs 48.09 crore and net profit decreased by 45.37 per cent to Rs 22.90 crore, compared to FY22.

Disclaimer: The article is for informational purposes only and not investment advice.