Ashish Kacholia portfolio stock Zaggle Prepaid jumps 5% defying stock market weakness; here's why

Ashish Kacholia portfolio stock Zaggle Prepaid jumped as much as 5% in intraday trade on the BSE on Tuesday, December 16, despite weak stock market sentiment. Zaggle Prepaid Ocean Services share price opened at ₹346.40 against its previous close of ₹346.40 and jumped 5% to an intraday high of ₹363.90. Around 2:10 pm, the small-cap IT stock was 4% up at ₹360.20 while equity benchmark Sensex was 0.50% down at 84,770.

Why are Zaggle Prepaid shares rising?

Zaggle shares are rising in the wake of several regulatory announcements. In an exchange filing after market hours on Monday, December 15, the company said it had entered into a warrant subscription agreement with Bennett Coleman and Company Limited (BCCL) of ₹40 crore.

"BCCL has entered into a warrant subscription agreement with the company on December 15, 2025, for subscribing to 7,05,467 warrants, each carrying a right to subscribe to one share of face value of ₹1, at a price of ₹567 per warrant, aggregate up to ₹39,99,99,789," said the company.

In a separate exchange filing during market hours on Tuesday, December 16, the company announces its board of directors had allotted 10,58,201 warrants at an issue price of ₹567 per warrant, to two entities.

The company allotted 3,52,734 warrants for ₹5 crore to promoter group RAN Ventures Private Limited, and 7,05,467 warrants for ₹10 crore to Bennett Coleman and Company Limited (a non-promoter entity) after receiving an amount being 25% of the issue price.

The allottees of warrants are entitled to apply for and be allotted an equal number of equity shares for each warrant held by them on payment of the balance 75% of the issue price within 18 months from the date of allotment of these warrants. These warrants allotted on a preferential basis will be locked in for a specified period.

Meanwhile, the company, in a separate exchange filing on December 16, announced that its board has approved the incorporation of its wholly owned subsidiary, Zaggle Payments IFSC Limited, in GIFT City, Gujarat. Zaggle Payments IFSC Limited is a fintech company, which will become a Saas Fintech Company, engaged in providing spend management solutions to corporates and their users through their online platform and solutions.

The proposed authorised share capital of the subsidiary company is ₹15,00,000 divided into 1,50,000 equity shares of ₹10 each.

Zaggle Prepaid Ocean Services shareholding pattern

According to the shareholding pattern data, prominent investor Ashish Kacholia held 30,03,356 shares, equivalent to 2.24% of the total voting rights, of the company by the end of the September quarter of the current financial year (Q2FY26).

Domestic institutional investors held 1,15,88,566 shares (8.63% stake), while foreign portfolio investors (FPIs) held 1,15,96,883 shares (8.64% stake) of the company by the end of Q2FY26.

Zaggle Prepaid share price trend

Zaggle Prepaid shares have lost nearly 30% this year so far. They hit a 52-week high of ₹597 on December 17 last year, followed by a 52-week low of ₹299 on April 9 this year.

On a monthly scale, the stock is down 8% in December so far after a 5% gain in November and an 8% gain in October.

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