Paytm sets up units in Indonesia, Luxembourg; sells 49% stake in UAE arm

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One97 Communications Ltd, the parent company of fintech firm Paytm, is expanding its overseas footprint through new subsidiaries in Indonesia and Luxembourg, while also bringing in an investor for its United Arab Emirates (UAE) payments arm, according to a stock exchange filing.

Paytm Cloud Technologies Ltd (PCTL), a wholly owned subsidiary of One97 Communications, has approved the incorporation of two step-down wholly owned subsidiaries in Indonesia and Luxembourg. The proposed entities will focus on expanding the distribution of Paytm’s…



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Paytm sets up units in Indonesia, Luxembourg; sells 49% stake in UAE arm



One97 Communications Ltd, the parent company of fintech firm Paytm, is expanding its overseas footprint through new subsidiaries in Indonesia and Luxembourg, while also bringing in an investor for its United Arab Emirates (UAE) payments arm, according to a stock exchange filing.

Paytm Cloud Technologies Ltd (PCTL), a wholly owned subsidiary of One97 Communications, has approved the incorporation of two step-down wholly owned subsidiaries in Indonesia and Luxembourg. The proposed entities will focus on expanding the distribution of Paytm’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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