Key Highlights
- Zaggle has entered into a five-year agreement with IRM Energy Limited.
- The company will provide its Zaggle Fleet Program to IRM Energy.
- Zaggle has signed a three-year service agreement with HDFC ERGO General Insurance.
- HDFC ERGO will deploy Zaggle’s Propel reward and incentive platform.
- Both agreements are domestic and do not qualify as related-party transactions.
Zaggle Prepaid Ocean Services Limited has entered into two separate multi-year agreements with IRM Energy Limited and HDFC ERGO General Insurance Company Limited, strengthening its presence in corporate expense management and digital reward solutions. The company disclosed the agreements under Regulation 30 of SEBI’s listing regulations.
Under the agreement with IRM Energy, Zaggle will deploy its Fleet Program to support fuel and fleet-related expense management requirements. The contract has a tenure of five years and is domestic in nature. The agreement is not classified as a related-party transaction, and the promoter group has no interest in IRM Energy.
In a separate development, Zaggle has executed a three-year service agreement with HDFC ERGO General Insurance Company. As part of the arrangement, Zaggle will provide its Propel reward platform, which is used for managing employee and channel partner incentive programs.
The company stated that both agreements align with its strategy of expanding enterprise adoption of digital payments, expense management, and reward platforms across large corporate clients. These deals add to Zaggle’s growing portfolio of long-term enterprise partnerships in the domestic market.