Zaggle jumps 15% after Vijay Kedia buys ₹32.94 crore stake
What's the deal? Zaggle Prepaid shares rallied more than 15% on August 19 after Vijay Kedia's investment firm, Kedia SecuritiesDealroom has a profile for this one. Try Dealroom →, bought a 1.48% stake through a bulk deal. The firm acquired 20 lakh shares of Zaggle Prepaid Ocean Services at ₹164.72 apiece, a transaction worth about ₹32.94 crore.
Why now? The purchase, reported through NSE bulk deal data on August 18, came just days after a sharp sell-off. Zaggle's shares hit their lower circuit on August 17 following weak first-quarter FY27 results.
Profit after tax fell 32.9% year-on-year to ₹17.53 crore, down from ₹26.11 crore a year earlier.
Market reaction: The stock gained as much as 15.1% to ₹190.94 in early trading. Some reports placed the rise closer to 18%, with the stock touching ₹195.70 on the BSE.
What does Zaggle do? The company operates in fintech and SaaS, focused on digital expense management and corporate financial solutions. Its platform helps businesses manage employee expenses and payment processes digitally.
What could go wrong? A recognised investor's stake does not guarantee the stock will rise or set a valuation for Zaggle. The share-price move reflects sentiment, not a change in underlying earnings — and the recent profit decline points to real operating pressure.
The signal: Zaggle has drawn attention from other investors, including Ashish Kacholia, who held more than 29 lakh shares as of August 5, 2026. But the earnings and the endorsement tell separate stories: one reflects market sentiment, the other the company's actual performance.
Read more: Equentis
Image credit: Ken Lund
