Zaggle Prepaid Ocean Services Ltd - enters into agreement with HPCL

Zaggle Prepaid Ocean Services Limited has entered into a strategic agreement with Hindustan Petroleum Corporation Limited (HPCL) to provide its Zaggle Fleet Program services. The five-year domestic contract, announced on October 22, 2025, is not classified as a related party transaction, and promoter group has no interest. The agreement was disclosed in compliance with the Securities and Exchange Board of India (SEBI) regulations and highlights Zaggle's continued expansion into the corporate services and fleet management sectors.

The partnership is expected to enhance Zaggle's market presence by offering tailored expense management solutions to HPCL, a major player in India's energy sector. The agreement aligns with Zaggle's broader strategy to diversify its service offerings and strengthen its position in the corporate fintech space. The company has previously entered into similar agreements, including a one-year partnership with Birlasoft Limited for employee expense management and a seven-year collaboration with Visa(https://scanx.trade/stock-market-news/orders-deals/zaggle-prepaid-ocean-services-partners-with-visa-for-co-branded-domestic-prepaid-cards/28721868).

While specific financial terms of the HPCL agreement have not been disclosed, the long-term nature of the contract suggests a stable and strategic business relationship. The agreement was signed by Zaggle's Managing Director and CEO, Avinash Ramesh Godkhindi, and submitted to NSE and BSE. Investors and analysts will likely monitor the impact of this partnership on Zaggle's operational performance and market positioning in the coming quarters.