Zaggle Acquires Rivpe Technology for Rs. 22 Crores, Plans Rs. 75 Crore Investment
Filing Summary
Zaggle Prepaid Ocean Services Ltd has announced the acquisition of a 100% stake in Rivpe Technology Private Limited for a consideration of up to Rs. 22 Crores. The acquisition includes 81,429 equity shares and 16,407 compulsory convertible preference shares. Additionally, Zaggle plans to invest up to Rs. 75 Crores in Rivpe in multiple tranches. The acquisition, approved at the board meeting on December 4, 2025, will make Rivpe a wholly-owned subsidiary. Rivpe operates in the fintech sector, focusing on consumer credit cards and UPI payments.
Zaggle Prepaid Ocean Services Ltd has informed the acquisition of a 100% stake in Rivpe Technology Private Limited during its board meeting on December 4, 2025. The acquisition involves the purchase of 81,429 equity shares and 16,407 compulsory convertible preference shares for a total consideration of up to Rs. 22 Crores. This transaction is subject to the execution of a Share Purchase Agreement. Upon completion, Rivpe will become a wholly-owned subsidiary of Zaggle.
The financial terms of the acquisition include a cash consideration of up to Rs. 22 Crores. Additionally, Zaggle plans to invest up to Rs. 75 Crores in Rivpe, which will be executed in one or more tranches. This investment is aimed at supporting Rivpe’s operations and growth within the fintech industry. The acquisition and investment are structured as cash transactions, with no share swaps or other forms of consideration involved.
Rivpe Technology Private Limited is a fintech company that operates in the consumer credit card and UPI payments sector. The company has an authorized share capital of Rs. 15,00,000, divided into 1,00,000 equity shares and 25,000 preference shares. Rivpe’s paid-up share capital stands at Rs. 11,42,430. For the financial year 2025, Rivpe reported a turnover of Rs. 0.98 Crores, an increase from Rs. 0.13 Crores in the previous year. The acquisition does not fall under related party transactions, and there is no interest from Zaggle’s promoter group in Rivpe.
The acquisition is expected to be completed within 120 days from the date of the board meeting. No governmental or regulatory approvals are required for this transaction. The board meeting where this decision was made commenced at 02:00 p.m. and concluded at 02:27 p.m. on December 4, 2025.
Zaggle Prepaid Ocean Services Ltd is a company engaged in providing innovative financial solutions, including prepaid cards and expense management services. The company focuses on expanding its product offerings and enhancing its market presence in the fintech sector. This acquisition aligns with Zaggle’s strategic priorities to diversify its portfolio and strengthen its position in the consumer credit card and UPI payments market.