Zaggle Prepaid Ocean Services' share price is expected to be in focus on September 26 as the business prepares to purchase a majority stake in an information technology services company.
At its meeting on Wednesday, September 25, 2024, the board of directors of Zaggle Prepaid Ocean Services approved the acquisition of 10,66,314 equity shares of face value Rs 10 each at a price of Rs 300.80 per share (including a premium of Rs 290.80 per share), constituting a 98.32 percent stake in Span Across IT Solutions, with Span Across becoming a subsidiary of the company once the procedural requirements are met.
The planned acquisition provides an opportunity to enter a new segment of the employee-related business, according to the company.
The board also approved a Rs 15.6 crore investment for 26 percent ownership capital in Mobileware Technologies, a digital payments infrastructure startup, on a post-issue and fully diluted basis.
Mobileware is at the forefront of digital payments innovation in India, offering an integrated product suite of NPCI certified switch solutions for UPI, IMPS, AEPS, and BBPS, as well as an API and agency banking platform called Transxt.
