Shares of Zaggle Prepaid Ocean Services Ltd fell 1.5% after touching a day’s high of Rs 389.15 on 21st November. This happened even as the firm announced it has signed an agreement with BIBA Fashion Limited to provide its enterprise platform, Zaggle Zoyer. This strengthens its presence in the retail and fashion sector.

Zaggle said in an exchange filing that it has signed a 36-month agreement with BIBA Fashion Limited. However, the company did not disclose the contract’s commercial value. The deal has been classified as a domestic, standard service contract. Under this, Zaggle will provide its Zoyer platform, which offers workflow automation, expense management, and digital processing tools.

The company also clarified that the transaction involves no related parties. Neither the promoters nor the promoter group have any interest in BIBA Fashion. Therefore, the agreement is not considered a related-party transaction under SEBI norms.

At 12:43 PM, shares of Zaggle Prepaid were trading 0.47% lower at Rs 383.20 on NSE.

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