Zaggle signs 5-year agreement with Megha City Gas
Filing Summary
Zaggle Prepaid Ocean Services Limited has signed a five-year domestic agreement with Megha City Gas Distribution Private Limited. Under the deal, Zaggle will provide its Fleet Program solution for managing payments and fleet-related expenses. The agreement is not a related party transaction and falls within regular business operations.
Zaggle Prepaid Ocean Services Limited has entered into an agreement with Megha City Gas Distribution Private Limited. The agreement covers deployment of Zaggle’s Fleet Program solution for Megha City Gas operations.
The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015. The agreement has a validity period of five years. It is a domestic arrangement and does not fall under related party transactions.
Under the agreement, Zaggle will provide Megha City Gas with its digital platform for managing payments, fleet operations, and related business expenses. The scope includes usage of prepaid instruments and digital management tools for expense tracking.
The contract terms specify that the engagement is on a commercial basis and part of regular business operations. Zaggle has stated that the agreement does not create any promoter or group interest in the counterparty.
Megha City Gas Distribution operates in the city gas segment, managing distribution and supply of natural gas to industrial, commercial, and domestic customers. The digital fleet program offered by Zaggle will enable the company to manage its operational payments more efficiently through an automated system.
This agreement is part of Zaggle’s ongoing business activities involving digital expense and payment management solutions for enterprise customers. The company disclosed that all required details were provided in Annexure-A to the filing.
About Zaggle Prepaid Ocean:
Zaggle Prepaid Ocean Services Limited is a fintech company providing prepaid and spend management solutions to enterprises. Its core offerings include digital employee benefits, expense automation, and incentive management platforms. The company serves corporates across multiple industries with technology-based expense control systems.
