Board approves incorporation of a wholly owned subsidiary in Abu Dhabi Global Market

Board approves a wholly owned subsidiary, "Zaggle Holding Limited", in Abu Dhabi Global Market (UAE).

Tue 6 Oct 2026

Initial Capital

an amount equivalent to USD 10,000 (or INR equivalent), to be infused in one or more tranches

Shareholding

100%

Country of Incorporation

Abu Dhabi Global Market (ADGM), Abu Dhabi, United Arab Emirates (UAE)

What was approved

The board of the company, at its meeting on October 6, 2026, approved the incorporation of a wholly owned subsidiary in Abu Dhabi Global Market (ADGM), Abu Dhabi, United Arab Emirates, in the name and style of "Zaggle Holding Limited" (or such other name as approved by the relevant authority(ies)). The board meeting commenced at 1:30 PM (IST) and concluded at 2:15 PM (IST).

Details of the proposed entity

• Name of the proposed company: "Zaggle Holding Limited" or such other name as approved by the relevant authority(ies)
• Country of incorporation: Abu Dhabi, United Arab Emirates (UAE); the incorporation process will be initiated
• Relation with the listed entity: being incorporated as a wholly owned subsidiary of the company
• Industry: Fintech Industry / SaaS / AI
• Business: engaged in Fintech/SaaS/AI business along with acting as a holding company for holding investments in group and third-party entities, as per business requirements
• Approvals: ADGM Registration Authority and any other approvals, as may be required

Money involved

• The entity is proposed to be incorporated with an initial capital of an amount equivalent to USD 10,000 (or INR equivalent), to be infused in one or more tranches, in accordance with applicable local laws and requirements.
• The cost of subscription / price at which the shares are subscribed is stated as above, i.e., the same initial capital.
• The company shall hold 100% of the shareholding in the proposed entity.

How to read this

• This is a corporate-structure update: a new overseas subsidiary is being set up. The proposed entity is described as a holding company for investments in group and third-party entities, as per business requirements.
• The entity's stated industry and lines of business are Fintech, SaaS and AI, which sit alongside the company's existing business areas.
• The named proposed entity is a holding structure, so any actual investments into group or third-party entities would come through separately as and when decided.
• The initial capital commitment stated is an amount equivalent to USD 10,000 (or INR equivalent), to be infused in one or more tranches.

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