Paytm to set up overseas subsidiaries in Indonesia, Luxembourg; UAE unit to induct Abbar Global SPV

One 97 Communications Ltd (Paytm) on Monday (December 22) disclosed that its wholly owned subsidiary, Paytm Cloud Technologies (PCTL), has approved the incorporation of two overseas wholly owned subsidiaries in Indonesia and Luxembourg, as part of its international expansion plans.

According to the company’s regulatory filing,

the proposed entities will operate in payments and financial services and will be step-down wholly owned subsidiaries of One 97 Communications.

PCTL plans to invest up to ₹25 crore in each of the two subsidiaries, in one or more tranches, at face value.

The company said no governmental or regulatory approvals are required for the incorporation of these entities.

Separately, the board of Paytm Arab Payments L.L.C. (PAPL), a wholly owned subsidiary of PCTL incorporated in April 2025 to expand Paytm’s merchant payments and financial services offerings in the UAE, has approved a strategic investment by Abbar Global Opportunities Holdings Ltd (AGOHL), subject to necessary approvals and conditions.

Under the approved transaction, PAPL will issue and allot 76,862 equity shares of face value AED 100 each to AGOHL, representing 49% of PAPL’s post-issue paid-up share capital. The investment is valued at approximately AED 7.69 million and is expected to be completed by February 28, 2026.

Following the transaction, PAPL will cease to be a wholly owned subsidiary of PCTL and will become a 51%-owned subsidiary, while continuing as a step-down subsidiary of One 97 Communications.

AGOHL is a special purpose vehicle of Mohamed Ali Rashed Alabbar, founder of Emaar Properties.

Paytm stated that AGOHL does not belong to the company’s promoter or group entities and that the transaction does not qualify as a related-party transaction.