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Zaggle Prepaid Ocean Services Limited (ZAGGLE) announced on June 5, 2025, that it has executed a non-binding term sheet to acquire 100% share capital and voting rights in Greenedge Enterprises Private Limited. The acquisition is subject to the execution of definitive agreements and completion of certain identified conditions precedent.

Key details of the proposed acquisition:

• The total aggregate consideration for acquiring 100% shareholding of Greenedge will be ₹27 Crores.
• The mode of acquisition (cash consideration or shares swap) will be determined by the Board of Directors at a later stage.
• Greenedge Enterprises Private Limited operates as a solution provider for golf travel, experiences, and access-based rewards, belonging to the Loyalty Experiences and Rewards industry (niche segment focused on golf-based corporate engagement).
• Its authorized share capital is ₹30,00,000, and paid-up capital is ₹13,00,000.
• Turnover of Greenedge for the last three financial years:
  • FY 2023-24: ₹19.82 Crores
  • FY 2022-23: ₹13.67 Crores
  • FY 2021-22: ₹7.28 Crores
• The acquisition is not a related party transaction, and the promoter/promoter group/group companies have no interest in the entity being acquired.
• The proposed acquisition is expected to strengthen Zaggle’s product offerings in the loyalty and rewards segment and travel segment, giving a boost to their Propel offering.
• The indicative time period for completion of the acquisition is within 90 days from the date of approval by the Board of Directors of the Company.
• Greenedge Enterprises Private Limited was incorporated on March 9, 2009, and has its presence only in India.

• Zaggle Prepaid Ocean Services Limited (ZAGGLE) has agreed to acquire 100% of the share capital and voting rights in Dice Enterprises Private Limited from existing shareholders.
• A non-binding term sheet was executed on June 5, 2025.
• The mode of acquisition (cash consideration/shares swap) will be determined later by the Board of Directors.
• Dice Enterprises Private Limited has an authorized share capital of ₹10 Lakhs and a paid-up capital of ₹1,88,890.
• Dice achieved a turnover of ₹6.32 Crores for FY 2023-24.
• The acquisition will expand Zaggle's product offerings and customer base, providing access to a technically skilled workforce.
• Dice Enterprises Pvt Ltd is a spend management platform providing travel & expense management, accounts payable management and procurement management solutions
• Dice Enterprises was incorporated on January 12, 2018.
• Last three years’ turnover (₹ in Crores):
• FY 2021-22: ₹1.39 Crores
• FY 2022-23: ₹3.87 Crores
• FY 2023-24: ₹6.32 Crores
• The acquisition is expected to be completed within 90 days from the date of approval by the Board of Directors for a total consideration of ₹123 Crores.

Zaggle Prepaid Ocean Services Limited (ZAGGLE) has provided an update on a tax litigation matter concerning a penalty order. The key details are as follows:

• The company and its directors received a summary of an order dated February 3, 2025, from the Joint Commissioner, Rangareddy, Telangana.
• The order imposes a penalty amounting to ₹ 84,61,270 on the Company and ₹ 25,000 on each Director.
• This penalty was levied under the CGST Act, 2017, SGST Act, 2017, and IGST Act, 2017.
• The penalty is in relation to assessment proceedings conducted for claiming excess Input Tax Credit for the financial year 2017-18.
• Zaggle has filed an appeal against this order before the Commissioner (Appeals) at Mumbai on June 2, 2025.
• The company is hopeful of a favorable outcome at the appellate level and does not reasonably expect the said orders to have any material financial impact on the Company.

Zaggle Prepaid Ocean Services Limited (ZAGGLE) has provided an update on ongoing tax litigation, following its previous disclosure dated February 26, 2025. The company received an order dated February 25, 2025, from the Additional Commissioner, Rangareddy, Telangana, pertaining to assessment proceedings for the financial year 2017-18 concerning overriding commission.

The order imposes penalties as follows:

• A penalty amounting to ₹2,59,32,290 (approximately ₹2.59 crore) on the Company under the IGST Act, 2017.
• A penalty of ₹2,00,000 (₹2 lakh) on a Director under the CGST Act, 2017, and SGST Act, 2017.

The Company has filed an appeal against this order before the Commissioner (Appeals) at Mumbai on June 2, 2025. Zaggle Prepaid Ocean Services Limited is hopeful of a favorable outcome at the appellate level and does not reasonably expect these orders to have any material financial impact on the Company.