India, Dec. 16 -- Update | December 16, 16:58 IST

Fintech SaaS major Zaggle has raised about INR 15 Cr from Times Group parent Bennett Coleman and Company Ltd (BCCL) and promoter group entity RAN Ventures via issuance of 10.58 Lakh warrants. The company allotted 7.06 Lakh warrants to BCCL and 3.53 Lakh warrants to RAN Ventures at an issue price of INR 567 apiece.

The warrants can be converted to an equal number of equity shares on payment of 75% balance of the issue price within 18 months. The current investment is 25% of the total price under the agreement.

Besides allotting the warrants to the Times Group parent, Zaggle also entered into an advertisement agreement with BCCL yesterday. Under this, the media conglomerate would advertis...