India, Sept. 23 -- Shares of SaaS fintech company Zaggle surged as much as 5.2% to INR 373.40 apiece during the early trading hours on the BSE today.

However, the stock pared some of the gains and was up 1.5% at INR 360.30 on the BSE at 12:45. The company's market capitalisation stood at INR 4,837 Cr (about $544 Mn) at the time.

The rally came after Zaggle announced partnerships with AU Small Finance Bank (AU SFB) for co-branded retail credit card, co-branded prepaid card, and commercial card, and with Mastercard for co-branded domestic prepaid cards.

Under the partnership with AU SFB, Zaggle will launch co-branded prepaid cards, powered by Zaggle Platform, to automate employee rewards, benefits, expenses and reimbursements. It will al...