Zaggle Prepaid Ocean Services’ shares hit a 5% upper circuit at ₹361.85 apiece on the NSE, after announcing the acquisition of a 51% stake in Effiasoft for ₹41.31 crore. 

The strategic move is expected to enhance Zaggle’s fintech ecosystem and drive digital transformation in payments and enterprise software solutions.

Effiasoft, a Hyderabad-based company, specializes in enterprise software solutions, offering point-of-sale (PoS) systems, inventory management, and customer loyalty tools under its flagship platform, JustBilling. 

Zaggle’s board approved the acquisition of a 45.33% stake from existing shareholders Koushik Shee and Akula Krishna Rao for ₹36.72 crore. Additionally, the company plans to acquire another 5.67% stake for ₹4.59 crore, bringing its total stake to 51%. 

Stock Hits Upper Circuit

Following the announcement, Zaggle’s shares locked at a 5% upper circuit for the second consecutive session, reflecting strong investor confidence in the acquisition. 

Fintech Expansion & Growth Prospects

The acquisition is expected to:

  • Accelerate product development in financial technology.
  • Enhance merchant engagement through seamless integrations.
  • Improve payment processing capabilities for business clients.

Effiasoft’s technology, with over 300 merchant partners, aligns with Zaggle’s vision to expand its footprint in digital payments and enterprise fintech solutions.

Zaggle’s Growth Strategy

The Effiasoft acquisition follows Zaggle’s recent 38.34% stake purchase in Mobileware, a move aimed at strengthening its SaaS fintech offerings. The company also partnered with Omega Healthcare Management Services to provide expense management solutions.

With a series of strategic acquisitions, Zaggle aims to position itself as a dominant player in India’s fintech space, leveraging technology to enhance digital payments and enterprise finance solutions. 

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