Zaggle Prepaid Ocean Services Limited has entered into a new agreement with Crompton Greaves Consumer Electricals Limited, effective June 10, 2026. This partnership signifies Zaggle’s continued expansion in providing its employee expense management and benefits solutions. The agreement is structured as a 5-year contract, with the consideration based on user engagement on the platform, making the exact value difficult to ascertain at this stage.
Zaggle and Crompton Greaves Partnership
Zaggle Prepaid Ocean Services Limited (Zaggle) is pleased to announce the execution of a new agreement with Crompton Greaves Consumer Electricals Limited. The formal agreement was finalized on June 10, 2026, marking a significant step in Zaggle’s strategic business development initiatives.
Details of the Agreement
Under the terms of the agreement, Zaggle will provide its comprehensive Zaggle Save solution, which encompasses employee expense management and benefits, to Crompton Greaves Consumer Electricals Limited. This marks the award of a domestic contract for Zaggle.
Key Terms and Conditions
- Entity Awarding Order: Crompton Greaves Consumer Electricals Limited
- Nature of Contract: Agreement for employee expense management and benefits solution.
- Contract Duration: The agreement is set for a period of 5 Years.
- Consideration: The broad consideration or size of the contract is variable. The quantum of the SaaS/Software fee is dependent on the number of active users each month on the platform. The corresponding program fee will be determined by the actual spends incurred by users over time, making it challenging to ascertain a fixed value at this juncture.
- Related Party Transaction: The company has confirmed that this agreement does not fall within related party transactions and is conducted at arm’s length. Similarly, neither Zaggle’s promoter, promoter group, nor group companies have any interest in Crompton Greaves Consumer Electricals Limited.
Zaggle Prepaid Ocean Services Limited is committed to delivering innovative and efficient solutions to its clients, and this partnership with Crompton Greaves Consumer Electricals Limited is a testament to that commitment.
Source: BSE
