Paytm Sells 49% Stake in UAE Arm to Alabbar Entity

UAE-based fintech firm Paytm Arab Payments LLC, a step-down subsidiary of One97 Communications, has approved the issuance of equity shares representing a 49 per cent stake to Abu Dhabi-based Abbar Global Opportunities Holdings Limited for approximately Rs 19 crore, according to a regulatory filing made on Monday.

Abbar Global Opportunities Holdings Limited is a special purpose vehicle owned by Mohamed Ali Rashed Alabbar, the founder of Emaar Properties, known globally for landmark developments such as the Burj Khalifa and Dubai Mall.

In its filing, the company said the Board of Directors of Paytm Arab Payments approved the issuance and allotment of 76,862 equity shares with a face value of AED 100 each, amounting to 49 per cent of the post-issue paid-up share capital of the company, to Abbar Global Opportunities Holdings Limited.

Paytm Arab Payments LLC was established to drive the expansion and distribution of Paytm’s technology-led merchant payments and financial services solutions in the UAE. It was initially incorporated as a wholly owned subsidiary of Paytm Cloud Technologies Limited.

Following completion of the transaction, Paytm Arab Payments will cease to be a wholly owned subsidiary of Paytm Cloud Technologies and will instead operate as a 51 per cent-owned subsidiary. It will, however, continue to remain a step-down subsidiary of One97 Communications, the filing added.

Separately, the board of Paytm Cloud Technologies has approved the incorporation of two new wholly owned subsidiaries in Indonesia and Luxembourg. Each entity will be set up with an initial investment of Rs 25 crore. The move aligns with Paytm’s previously stated strategy to explore select international markets and expand the global footprint of its merchant payments and financial services technology.

The latest investment and overseas expansion plans underscore Paytm’s focus on strengthening its international presence while bringing in strategic partners with deep regional expertise.