Stake sale · Financial Services

Kedia Securities buys 1.5% stake in Zaggle via bulk deal

By Startup Enthusiast · 19 August 2026

What they do

Zaggle offers prepaid cards, commercial credit cards, and SaaS products for expense and tax management

Kedia Securities bought 2 million shares at ₹164.72 each, a ₹32.94 crore deal, as Zaggle's stock hit a record low

Zaggle's Q1FY27 profit fell 32.9% YoY due to Dice acquisition costs, with revenue from Dice expected from Q2FY27

Kedia Securities bought 2 million shares of Zaggle at ₹164.72 per share via a bulk deal on the NSE on 18 August 2026.
The deal value was ₹32.94 crore.
Kedia Securities now holds a 1.48% to 1.5% stake in Zaggle.
Zaggle's share price hit a record low of ₹154.40 on the same day.
The stock had a record high of ₹417.40 on 18 August 2025.
Zaggle shares fell 47% in CY2026, compared to a 7.8% fall in the Nifty 50 index.
Zaggle's Q1FY27 consolidated net profit was ₹17.53 crore, down 32.9% year-on-year.
Revenue from operations was ₹423.26 crore, up 27.5% year-on-year, but down 31.5% quarter-on-quarter.

The stake sale comes as Zaggle's stock price has fallen sharply, hitting a record low.
Zaggle's Q1FY27 profit dropped due to Dice acquisition costs, including transaction expenses, one-time vendor payments, and relocation for over 100 professionals.
Revenue from Dice contracts is expected to start from Q2FY27.
Zaggle also acquired credit card fintech Rio.Money, rebranded as Zagg.Money.
The Income Tax (Appeals) dismissed Zaggle's appeal against a ₹4.09 crore demand for assessment year 2022-23.

Zaggle operates in the B2B2C segment, offering fintech products including prepaid cards, commercial credit cards, and SaaS products like tax and payroll software.
It is one of the largest issuers of prepaid cards in India, in partnership with banking partners.
It is also one of the largest commercial credit card players in India based on spends generated on cards issued by partner banks.
The company provides employee expense management, travel and expense automation, card-based spending, procure-to-pay, tax solutions, and channel partner rewards.

Kedia Securities (buyer) — A securities firm that bought 2 million shares of Zaggle via bulk deal.