Zaggle Prepaid Ocean Services Limited has entered into a new corporate agreement with Hexalog Technologies Private Limited, strengthening its presence in the employee benefits and expense management space. The company disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Under the agreement, Zaggle will provide a facility to procure and lease mobile phones for employees of Hexalog Technologies through its Employee Purchase Programme. This arrangement enables Hexalog’s workforce to access smartphones via a structured leasing model, while allowing the employer to streamline employee benefit offerings in a tax-efficient and digitally managed manner.
The contract has been awarded by a domestic entity and is classified as a standard agreement. The tenure of the arrangement is three years, during which Zaggle will manage the end-to-end process of procurement and leasing of mobile devices for eligible employees. While the company has not disclosed the exact monetary value of the agreement, the engagement is expected to contribute to transaction volumes and reinforce Zaggle’s enterprise client base.
Zaggle has clarified that neither the promoter nor the promoter group has any interest in Hexalog Technologies. The agreement also does not fall under related party transactions, ensuring that the deal has been executed on a normal commercial basis and at arm’s length.