Kedia Securities Buys 20 Lakh Shares of Zaggle Prepaid in Bulk Deal
· Business · LiveMint, Economic Times
Kedia Securities purchased 20,00,000 shares of AI‑led SaaS fintech Zaggle Prepaid Ocean Services at an average price of ₹164.72 through a bulk deal on the NSE on 18 August, spending nearly ₹33 crore. The transaction triggered a sharp rally, with the stock opening at ₹187.40 on 19 August, above its previous close of ₹165.88, and climbing to an intraday high of ₹194.70, a gain of more than 17%. The deal occurred when Zaggle Prepaid was at a 52‑week low of ₹154.36 on 17 August. Though the company’s June quarter shareholding data does not list Kedia’s firm, the stake may be below 1% or undisclosed by the quarter’s end. Noted investor Ashish Kacholia holds a 2.16% stake in the company.
Why it matters
The purchase by a prominent investor may boost confidence among shareholders and could influence the company’s governance and strategic direction. The price surge reflects heightened investor interest and could affect trading volumes and market sentiment for the stock.
Read the original report — LiveMint
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