Zaggle Prepaid saw its shares jump over 3% following the announcement of a strategic move aimed at strengthening its footprint in the loyalty and rewards sector. The company will acquire Greenedge Enterprises Private Limited, a niche player specializing in golf-based corporate engagement and B2B solutions, including golf travel, experiences, and rewards programs integrated with Rupay Cards.
The acquisition, approved by Zaggle Prepaid’s Board of Directors on September 29, 2025, involves purchasing 1,30,000 equity shares from Greenedge shareholders for up to ₹25 crore, giving Zaggle full ownership of the company. In addition, the company plans to invest up to ₹25 crore in Greenedge through a Share Subscription Agreement.
Greenedge, incorporated in 2009, has demonstrated significant growth over the past three years, with turnover rising from ₹7.28 crore in 2021-22 to ₹19.82 crore in 2023-24. The company operates exclusively in India and brings specialized expertise in corporate loyalty solutions and travel-based rewards.
This acquisition is set to enhance Zaggle Prepaid’s Propel platform, expanding offerings in both loyalty and rewards as well as the travel segment. The deal will be completed entirely through cash consideration and is expected to close within 45 days. Importantly, this is not a related-party transaction, with neither promoters nor the promoter group holding any interest in Greenedge.
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