Key Highlights
- Zaggle signed two agreements with IDFC First Bank
- SaaS Partnership Agreement to provide SaaS solutions to IDFC First Bank’s corporate customers
- Referral Partnership Agreement to offer IDFC First Bank’s Forex solutions to Zaggle’s corporate clients
- SaaS contract effective from September 26, 2025, valid until terminated
- Forex partnership signed for a 3-year term
Mumbai, September 27, 2025 – Zaggle Prepaid Ocean Services Limited has entered into two strategic agreements with IDFC First Bank Limited, strengthening its service portfolio in the areas of Software-as-a-Service (SaaS) and Forex solutions.
According to regulatory filings, the partnerships include:
- SaaS Partnership Agreement: Under this arrangement, Zaggle will provide its SaaS-based platforms to IDFC First Bank’s corporate customers. The agreement commenced on September 26, 2025, and will continue until terminated.
- Referral Partnership Agreement: Zaggle will facilitate access to IDFC First Bank’s Forex solutions for its corporate clients. This contract has been signed for a period of three years.
Both agreements are with a domestic entity and are not classified as related-party transactions. The companies have confirmed that neither the promoters nor the promoter group of Zaggle hold any interest in IDFC First Bank in connection with these contracts.
Avinash Ramesh Godkhindi, Managing Director and Chief Executive Officer of Zaggle, signed the disclosures submitted to the National Stock Exchange of India (NSE) and BSE Limited.
These collaborations are expected to enhance Zaggle’s suite of offerings for enterprise clients while expanding IDFC First Bank’s reach in the corporate segment.