Zaggle Prepaid Ocean Services has signed a non-binding term sheet to acquire 100% equity and voting rights in Dice Enterprises Private Limited for Rs. 123 crore. The deal, disclosed in a regulatory filing dated June 5, 2025, will be formalized through definitive agreements and is expected to be completed within 90 days from board approval.
Dice Enterprises, founded in 2018, is a spend management platform offering travel and expense solutions, accounts payable management, and procurement tools. With a revenue of Rs. 6.32 crore in FY24, Dice has seen strong growth from Rs. 1.39 crore in FY22 and Rs. 3.87 crore in FY23. The company operates only in India.
Zaggle stated that the acquisition would enable it to expand its product portfolio and customer base, and offer combined solutions to strengthen its domestic and global presence. The deal does not involve any related party transaction and the mode of payment—cash or share swap—will be determined later by the board.
The acquisition also gives Zaggle access to Dice’s technically skilled workforce, aiding future product development and innovation.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
