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 warrant issue 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 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.
(This is a developing story. Please check back for fresh updates.)