Zaggle signs 36-month deal to provide Zoyer platform to BIBA Fashion

Zaggle Prepaid Ocean Services Ltd said on Thursday it has signed an agreement with BIBA Fashion Limited to provide its enterprise platform Zaggle Zoyer, strengthening its presence in the retail and fashion sector.In an exchange filing, the company said it “has entered into an agreement with BIBA Fashion Limited,” adding that the engagement will run for 36 months. Zaggle did not disclose the commercial value of the contract.

According to details submitted to the stock exchanges, the arrangement has been classified as a domestic agreement and falls under the category of a standard service contract. As part of the mandate, Zaggle will deploy its Zoyer platform, which integrates workflow automation, expense management and digital processing tools for enterprise clients. The filing noted that “Zaggle would provide Zaggle Zoyer Platform to BIBA Fashion Limited.”
Zaggle said the transaction does not involve any related-party elements, with the company stating that neither its promoters nor promoter group have any interest in BIBA Fashion. The contract is also not classified as a related-party transaction under SEBI rules.

Zaggle shares ended little changed today at a price of ₹384.95 per share on the NSE. The stock has lost 30% of its value in the year so far.