Zaggle Prepaid Ocean Services has completed investment of Rs 15.6 crore for 26% ownership capital of Mobileware on a post issue and fully diluted basis through the execution of Share Subscription Agreement and Shareholders Agreement and acquisition of 4,622 equity shares for consideration of Rs 7.25 crore from the promoters of Mobileware, representing 12.34% of post-closing issued and paid-up capital of Mobileware, on a fully diluted basis, through the execution of Share Purchase Agreement.
Consequent to the completion of investment and acquisition, the company’s total shareholding in Mobileware stands at 38.34% on post issue and fully diluted basis.
Zaggle Prepaid Ocean Services operates in a segment where it interacts and interface with its customers (i.e., businesses) and end Users (i.e., employees) and is among a small number of uniquely positioned players with a diversified offering of fintech products and services.
