Wholly owned subsidiary to be incorporated in Abu Dhabi Global Market (ADGM)
Board approved incorporation of a wholly owned subsidiary in Abu Dhabi Global Market (ADGM), named "Zaggle Holding Limited".
- Initial Capital
- USD 10,000 (or INR equivalent), to be infused in one or more tranches
- Ownership
- Company will hold 100% of the shareholding in the proposed entity
- Business / Jurisdiction
- Fintech / SaaS / AI; incorporated in Abu Dhabi Global Market (ADGM)
What was approved
The Board of Directors, at its meeting on October 6, 2026, approved the incorporation of a wholly owned subsidiary of the Company in Abu Dhabi Global Market (ADGM), in the name and style of "Zaggle Holding Limited". The Board meeting commenced at 1:30 PM (IST) and concluded at 2:15 PM (IST).
Key details of the proposed entity
- Name: Zaggle Holding Limited, or such other name as approved by the relevant authority(ies).
- Place of incorporation: Abu Dhabi, United Arab Emirates (UAE). The incorporation process will be initiated.
- Ownership: the Company shall hold 100% of the shareholding in the proposed entity, making it a wholly owned subsidiary.
- Initial capital: 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 is stated as "As above".
- Industry: Fintech / SaaS / AI.
- Business: the proposed entity will be engaged in Fintech / SaaS / AI business and will also act 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.
How to read this
A wholly owned subsidiary means a company in which the listed entity holds the entire shareholding. Here the proposed entity is also described as acting as a holding company for investments in group and third-party entities, which indicates it is intended as a structure through which such holdings can be made.
Words to note
The disclosure says the Board has approved the incorporation and that the incorporation process will be initiated. It also describes the entity as "proposed". So this is an approval of a plan to set up the entity, with setting up to follow.
The amount involved
The initial capital is stated as an amount equivalent to USD 10,000, or INR equivalent, to be infused in one or more tranches. This is the capital figure disclosed for the proposed entity.
Also from Zaggle Prepaid Ocean Services
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More numbers
- Initial capital for the proposed entityUSD 10,000
- Shareholding of the Company in the proposed entity100%
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