Paytm Expands Global Footprint with Strategic UAE Partnership

Paytm Arab Payment, a subsidiary of One97 Communications, is transferring a 49% stake to Abu Dhabi's Abbar Global Opportunities Holdings for Rs 19 crore. This strategic move aims to enhance Paytm's technological services in the UAE, while Paytm also plans expansions in Indonesia and Luxembourg.

In a strategic maneuver to amplify its international presence, UAE-based fintech firm Paytm Arab Payment, associated with One97 Communications, is allocating a 49% stake to Abu Dhabi's Abbar Global Opportunities Holdings Limited for Rs 19 crore. This decision marks a significant expansion of Paytm's technological reach within the UAE.

The recipient of the stake, Abbar Global Opportunities Holdings Limited, is spearheaded by Mohamed Ali Rashed Alabbar, known for his leadership in developing iconic structures like the Burj Khalifa and Dubai Mall through Emmar Properties.

This transaction will result in Paytm Arab Payments LLC transitioning to a 51% owned subsidiary of Paytm Cloud Technologies Limited (PCTL), while remaining a step-down entity of Paytm. Additionally, Paytm is venturing into new territories, establishing subsidiaries in Indonesia and Luxembourg with an initial investment of Rs 25 crore to broaden its market reach.