Zaggle Prepaid Share Price Jumps 5% Despite Weak Indian Stock Market

Market Performance

Zaggle Prepaid share price stood out in the Indian stock market on December 16, rising sharply even as broader indices struggled. The small-cap IT stock gained as much as 5% in intraday trade, defying the weak market sentiment.

The stock opened at ₹346.40, unchanged from its previous close, and quickly moved higher to an intraday peak of ₹363.90. By around 2:10 pm, Zaggle Prepaid was trading nearly 4% higher at ₹360.20, while the Sensex was down 0.50% at 84,770.

This divergence highlighted strong stock-specific momentum, with investors reacting to fresh corporate and regulatory developments rather than broader market cues.

Main News: Why Is Zaggle Share Price Rising?

The surge in Zaggle Prepaid's share price came after multiple announcements made through exchange filings over two days.

Late on December 15, the company disclosed that it had entered into a warrant subscription agreement worth ₹40 crore with Bennett Coleman and Company Limited (BCCL).

As per the filing, BCCL agreed to subscribe to 7,05,467 warrants, each carrying the right to convert into one equity share of face value ₹1, at a price of ₹567 per warrant. The total value of this transaction stands at ₹39,99,99,789.

The development immediately drew attention to Zaggle Prepaid, especially amid subdued trading conditions across the stock market today.

Preferential Allotment Details

In a separate filing made during market hours on December 16, Zaggle Prepaid announced the allotment of 10,58,201 warrants on a preferential basis at an issue price of ₹567 per warrant.

The allotment was made to two entities:

• 3,52,734 warrants allotted to RAN Ventures Private Limited, a promoter group entity, amounting to ₹5 crore
• 7,05,467 warrants allotted to Bennett Coleman and Company Limited, a non-promoter entity, amounting to ₹10 crore

The company confirmed that 25% of the issue price was received upfront. The remaining 75% can be paid within 18 months, upon which the warrant holders will be eligible to convert each warrant into one equity share.

These warrants, issued on a preferential basis, are subject to a lock-in period, as per regulatory requirements.

Company Update: New Subsidiary in GIFT City

Adding to the positive news flow, Zaggle Prepaid also announced the incorporation of a wholly owned subsidiary named Zaggle Payments IFSC Limited in GIFT City, Gujarat.

The new entity will operate as a SaaS fintech company, focusing on spend management solutions for corporates and users through digital platforms.

Key details of the subsidiary include:

• Authorised share capital: ₹15,00,000
• Equity structure: 1,50,000 shares of ₹10 each

This move places Zaggle Prepaid within India’s expanding fintech ecosystem, particularly in the IFSC framework.

Shareholding Snapshot

As per the latest available shareholding data for Q2FY26, notable holdings in Zaggle Prepaid include:

• Ashish Kacholia portfolio stock:
  • 30,03,356 shares
  • 2.24% stake in the company
• Domestic Institutional Investors (DIIs):
  • 1,15,88,566 shares
  • 8.63% stake
• Foreign Portfolio Investors (FPIs):
  • 1,15,96,883 shares
  • 8.64% stake

The presence of institutional and marquee investors continues to keep the stock in focus within small-cap stocks.

Zaggle Prepaid Share Price Trend

Despite the sharp intraday rise, Zaggle Prepaid's share price has seen mixed performance over different time frames.

• Year-to-date: Down nearly 30%
• 52-week high: ₹597 (December 17, last year)
• 52-week low: ₹299 (April 9, this year)

On a monthly basis:

• December: Down 8% so far
• November: Up 5%
• October: Up 8%

The latest rally comes after a period of consolidation, making the stock a key talking point in stock market news.

Summary

Zaggle Prepaid share price jumped up to 5% on December 16, bucking weak Indian stock market trends. The move was driven by a series of regulatory and corporate announcements, including a ₹40 crore warrant subscription agreement, preferential allotment of warrants, and the formation of a new fintech subsidiary in GIFT City.

With these developments unfolding together, the small-cap IT stock has returned to investor focus, highlighting how company-specific actions continue to shape price movements even during broader market weakness.