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Kedia Securities buys stake in Zaggle Prepaid, shares jump 17%

The bulk deal on the NSE involved 20 lakh shares at an average ₹164.72 each, totaling nearly ₹33 crore, after the stock hit a 52-week low on 18 August.

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Vijay Kedia-owned Kedia Securities bought a stake in AI-led SaaS fintech Zaggle Prepaid Ocean Services through a bulk deal on the NSE on Tuesday, 18 August, according to LiveMint Markets. The firm purchased 20 lakh shares at an average price of ₹164.72 per share, for a total value of nearly ₹33 crore.

After the purchase, Zaggle Prepaid Ocean Services shares rose more than 17% on Wednesday, 19 August. The stock opened at ₹187.40 against the previous close of ₹165.88, then climbed as much as 17.4% to an intraday high of ₹194.70, after finishing the prior session up 3.36%.

The report said the stake was acquired when Zaggle Prepaid shares were at a 52-week low of ₹154.36 on 18 August. It also noted that Vijay Kedia’s firm was not listed among the company’s key shareholders in the June quarter shareholding pattern data, which can happen if the holding is below 1%.

LiveMint Markets also highlighted that Zaggle Prepaid shares are down 47% year-to-date, and the company recently reported weaker profitability. On 14 August, it said Q1FY27 profit after tax fell 32.9% year-on-year to ₹17.53 crore, with PAT margin dropping to 4.1% from 7.9%, while adjusted EBITDA margin declined to 8.2% from 10.1%.

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