Zaggle Prepaid Ocean Services has announced a substantial investment in Rivpe Technology Private Limited, amounting to ₹49,99,99,939.92. This strategic move involves the allotment of 3,42,147 equity shares with a face value of ₹10 each, issued through a rights issue.
The investment, however, does not alter the shareholding structure, as Rivpe Technology will remain a wholly owned subsidiary of Zaggle. This decision aligns with Zaggle’s ongoing commitment to strengthening its portfolio and expanding its technological capabilities through strategic investments.
Rivpe Technology’s continued status as a wholly owned subsidiary suggests that the investment is aimed at bolstering its operational capabilities and facilitating further growth, rather than altering the ownership dynamics.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).