Ashish Kacholia stock jumps 4% after entering into an agreement with Jio Credit

Synopsis: Zaggle Prepaid Ocean Services Limited entered a one-year referral agreement with Jio Credit to offer device leasing solutions to corporate customers.

This Ashish Kacholia stock, engaged in providing digital business spend management solutions, including expense management, employee benefits, rewards, incentives, and corporate gifting services, jumped 3.82 percent after entering into a one-year agreement with Jio Credit Limited.

With a market capitalization of Rs. 4,188.18 crores, the share of Zaggle Prepaid Ocean Services Limited has reached an intraday high of Rs. 314 per equity share, rising nearly 3.82 percent from its previous day’s close price of Rs. 302.45. Since then, the stock has retreated and is currently trading at Rs. 311.50 per equity share. 

Reason Behind the Surge

Zaggle Prepaid Ocean Services Limited has entered into a one-year referral agreement with Jio Credit Limited. Under this agreement, Zaggle will refer its corporate customers to Jio Credit for availing leasing solutions as part of its Device Leasing Program. 

The agreement is domestic in nature and will help the company strengthen its product offerings, enhance customer value, and create additional business opportunities without impacting its balance sheet.

Customer Base

Zaggle Prepaid Ocean Services Limited has developed a strong customer base with over 3,674 corporate clients and more than 3.51 million users. The company has issued over 50 million prepaid cards in partnership with banks. 

Recently, Zaggle added well-known clients such as Indus Towers, Mamaearth, Forbes Marshall, Birlasoft, SMC Global Securities, Tech Mahindra, Physics Wallah, Adani Gas, and Wonder Home Finance, expanding its presence across multiple industries.

Company Overview

Zaggle Prepaid Ocean Services Limited was founded in 2011 and is a fintech company offering business spend management solutions. It helps corporates, SMEs, and startups digitally manage expenses, employee benefits, rewards and recognition, corporate gifting, and incentive programs through automated platforms.

Shareholding Pattern

In September 2025, Zaggle Prepaid Ocean Services Limited had a majority stake held by the promoters at 44.20 percent, foreign institutional investors at 8.64 percent, domestic institutional investors at 8.63 percent, and the public at 38.53 percent.

Ace investor Ashish Kacholia, under his name, holds a 2.24 percent stake in Zaggle Prepaid Ocean Services Limited, valued at Rs. 105.3 crores, consisting of 30,03,356 shares.

Recent Quarter Results

Coming into financial highlights, Zaggle Prepaid Ocean Services Limited’s revenue has increased from Rs. 303 crore in Q2 FY25 to Rs. 432 crore in Q2 FY26, which has grown by 42.57 percent. The net profit has also grown by 75 percent from Rs. 20 crore in Q2 FY25 to Rs. 35 crore in Q2 FY26. Zaggle Prepaid Ocean Services Limited’s revenue and net profit have grown at a CAGR of 53.56 percent and 95.6 percent, respectively, over the last two years.

In terms of return ratios, the company’s ROCE and ROE stand at 12.8 percent and 9.46 percent, respectively. Zaggle Prepaid Ocean Services Limited has an earnings per share (EPS) of Rs. 8.34, and its debt-to-equity ratio is 0.01x.

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