Vijay Kedia buys Rs 33 crore stake in Zaggle Prepaid Ocean Services via bulk deal, stock skyrockets 17%

Kedia Securities bought 20 lakh shares of the company at an average price of Rs 164.72 apiece via a bulk deal on Tuesday, implying less than a 1% discount from the day’s closing price of Rs 165.88 apiece, according to data on NSE.

Kedia’s entry into the stock came after it crashed sharply. After hitting a 52-week high of Rs 418 apiece in August last year, the stock more than halved in less than a year to hit a fresh 52-week low of Rs 154 apiece yesterday.

Zaggle Prepaid Ocean Services financials

Earlier this week, the stock crashed 20% to hit the lower circuit after a weak earnings print, with net profit dropping more than 32% year-on-year to Rs 17.53 crore for the April-June quarter of FY27, from Rs 26.11 crore in the same period last year.
Zaggle Prepaid Ocean Services’ adjusted EBITDA margin declined to 8.2% in Q1 FY27 from 10.1% in the same quarter of FY26. The company attributed the decline to expenses related to the Dice acquisition, including transaction costs, one-time vendor payments and relocation expenses for more than 100 professionals. Revenue from Dice contracts was not captured in Q1 FY27 and will start reflecting from Q2 FY27 onwards.

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Commenting on the Q1 performance, Raj P Narayanam, Founder and Executive Chairman of Zaggle Prepaid Ocean Services, said, “Q1 FY27 marks an important inflection point for Zaggle as we move from a decade of profitable growth into a phase of transformation through consolidation.”
He added that the company’s focus is now firmly on optimising core operations, scaling AI across its platforms and integrating its recent acquisitions, while calibrating its capitalisation and instilling greater cash flow discipline to position the company for higher-margin growth in the years ahead.Also read | Zaggle Prepaid Ocean Services crashes 20%, hits lower circuit after Q1 PAT declines 33% YoY

Zaggle Prepaid Ocean Services share price

Vijay Kedia’s stake acquisition boosted investor sentiment in the stock, which sharply rallied over 17% to trade at Rs 194.70 apiece on Wednesday morning. The stock later pared some gains to trade around 10% higher at Rs 182.66 apiece.

Despite today’s sharp gains, Zaggle Prepaid Ocean Services shares remain over 9% down in a week, 14% down in a month and 27% down in 2026 so far. Overall, the stock has fallen more than 55% in one year.

The company currently has a market capitalisation of nearly Rs 2,461 crore. Its P/E ratio stands at 17.13.

Also read |Vijay Kedia sells 4 lakh shares of this microcap facade maker in Q1, stock down 35% in 6 months. Do you own?

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