Paytm subsidiary to set up arms in Indonesia, Luxembourg
This story was originally published at 19:51 IST on 22 December 2025
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AHMEDABAD - One 97 Communications Ltd.'s wholly-owned subsidiary Paytm Cloud Technologies Ltd.'s board has approved incorporation of two wholly-owned subsidiaries in Indonesia and Luxembourg, the company said in a filing with the stock exchanges Monday.
The announcement with regards to setting up wholly-owned subsidiaries in Indonesia and Luxembourg was part of an earlier disclosure by Paytm Cloud Technologies that it was exploring select new markets for future growth and to bring its technology across merchant payments and financial services to international markets, the filing said.
Initially, the company will invest up to INR 250 million in each of these two proposed wholly-owned subsidiaries, where it will hold 100% equity.
Paytm Cloud Technologies' another wholly-owned subsidiary Paytm Arab Payments L.L.C's board approved issuing 76,862 equity shares of face value AED100 per share, or 49% stake, to Abbar Global Opportunities Holdings Ltd. and receive about 7.7 million AED (dirhams).
Abbar Global Holdings is special purpose vehicle of Mohamed Ali Rashed Alabbar, founder of Emaar Properties that developed iconic projects such as Burj Khalifa and Dubai Mall in the UAE. Post consummation of the said transaction, Paytm Arab Payments L.L.C. will cease to be wholly-owned subsidiary of Paytm Cloud Technologies Ltd. and will become 51% owned subsidiary, but continue as a step-down subsidiary of One 97 Communications Ltd.
For the quarter ended September, One 97 Communications had reported a consolidated net profit of INR 210 million on revenue of INR 20.61 billion. On Monday, shares of the company ended over 0.5% lower at INR 1,328.90 on the National Stock Exchange. End
Reported by Sunil Raghu
Edited by Vandana Hingorani
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