Looks like market is slowly downgrading he valuation premium due to ROCE issues caused bcz of low margins, constant acquisitions etc…DIIs are offloading stake quite a much…
Guidance upped from 35-40% to 40-45%. It’s a solid value buy at CMP.
That it is according to me. Though I want Q2 to speak for itself. Management has given hints of a blockbuster result so lets see. Zaggle has the potential to be the Ramp of India
Acquisition of Greenedge Enterprises Pvt Ltd - Loyalty Experiences and Rewards (niche segment focused on golf based corporate engagement) for 25cr, company has a turnover of 20cr in FY24.
Greenedge Enterprises operates as a solution provider for golf travel, experiences, and access-based rewards
https://www.bseindia.com/xml-data/corpfiling/AttachLive/aa989c73-1fe7-430f-ac5c-f62900065a5f.pdf
EGM announcement to approve warrant issuance to promoter entity and Bennett & Coleman Co Ltd at Rs 567 each (to be converted in next 18 months). Out of total 10 Lakh warrants to be issued, 7 Lakh warrants would be taken by Bennett & Coleman Co Ltd . Very interesting development in terms of quantity as well as price (CMP Rs 346)
Fail to understand why the new investor would subscribe to warrants at 50-60% higher than cmp. Can directly buy from open market?
Warrants will inject cash into the company while open market purchase will not. So, the promoter in this case is injecting needed capital (around 56 Cr), which is a good sign.
On the contra side (am speculating here and can be completely wrong), it could be to pump the stock price and dump a larger amount in the market, which seems unlikely as it will completely erode trust.
I am more intrigued by such a large sum to be invested by Times of India promoters.