Zaggle Shares Surge Over 12% After Vijay Kedia’s Firm Buys 1.48% Stake

Shares of Zaggle Prepaid Ocean Services experienced a 12.15% increase on the BSE today following Vijay Kedia's brokerage firm, Kedia Securities, acquiring a 1.48% stake in the fintech SaaS company. The bulk deal involved the purchase of 20 lakh shares at ₹164.72 per share, totaling around ₹32.94 crore. This significant investment came in the wake of heavy selling that had occurred earlier in the week, following the release of Zaggle's financial results for the June quarter of the 2026-27 fiscal year.

The stock had plummeted by 20% on August 17, following the company's disclosure of a 33% year-on-year and 57% quarter-on-quarter decline in its consolidated net profit to ₹17.5 crore. Despite a 28% rise in operating revenue to ₹423.3 crore, Zaggle's EBITDA margin suffered due to increased expenses associated with its May acquisition of enterprise spend management startup Dice Enterprises.

The company also faced a 4.09 crore income-tax demand, which the Commissioner of Income Tax (Appeals) ultimately dismissed.