Zaggle Prepaid Secures ₹60 Crore Fundraise Through Warrant Issue

Zaggle Prepaid announced on October 3, 2025, that its board of directors has approved a substantial fundraise of nearly ₹60 crore through the issuance of warrants. This strategic move will see the company issuing up to 10.58 lakh warrants to both its promoter group and non-promoters on a preferential basis, with each warrant priced at ₹567.

Each warrant will be convertible into one fully paid-up equity share of the company, which holds a face value of ₹1 each. The company has set the relevant date for this issuance as October 1, 2025. This funding initiative is expected to bolster the company’s operational capabilities and growth trajectory in the competitive prepaid solutions sector.

Growth Projections and Market Performance

In a significant update, Zaggle Prepaid recently raised its organic growth guidance to a robust 40-45%, up from a previous estimate of 30-35%. This adjustment reflects the company’s confidence in its business strategy and market conditions.

Avinash Godkhindi, Managing Director and Chief Executive Officer of Zaggle Prepaid, stated in an interview with CNBC-TV18 that the firm anticipates maintaining steady margins between 10-11% for the year, aligning with its earlier commitments to stakeholders. This positive outlook is crucial as the company navigates a challenging market landscape.

Despite the optimistic growth projections, Zaggle Prepaid’s shares experienced a decline earlier this year, with the stock down 36.3% year-to-date. However, the shares ended the previous trading session with a 2.04% increase, closing at ₹347.1 per share, indicating a potential recovery as the company embarks on this new funding phase.

Zaggle Prepaid’s decision to raise funds through warrants showcases its proactive approach to securing financial resources while positioning itself for future expansion. As the company moves forward, stakeholders will be keenly observing its performance and the impact of these financial strategies on its market standing.