Zaggle Prepaid Ocean Services Ltd., which into spend administration, mentioned that Vivriti Asset Management, a fixed-income Alternative Investment Fund (AIF) platform has invested ₹50 crore in its rated maiden debenture challenge.
The funding, made by way of buy of debentures by way of VAM’s performing credit score fund, will amortise over the following 40 months, paying curiosity quarterly.
The proceeds from the funding will likely be utilised in rising Zaggle’s merchandise such because the newly- launched accounts payable platform by Zaggle: “Zoyer ”.
Along with utilisation in the direction of the brand new merchandise, the proceeds of the [debentures] will even be used for working capital and enterprise development.
