Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Regulatory disclosure of subsidiary incorporation
Audit Opinion:
Not Specified
Key Financial Highlights:
Not Specified
Corporate Actions:
The Board of Directors approved the incorporation of a wholly owned subsidiary in Abu Dhabi Global Market (ADGM) under the name "ZAGGLE HOLDING LIMITED" or such other name as approved by relevant authorities.
Other Significant Information:
Subsidiary Details:
- Name: Zaggle Holding Limited (or as approved by authorities)
- Location: Abu Dhabi, United Arab Emirates (UAE)
- Industry: Fintech Industry / SaaS / AI
- Business Purpose: Engaged in Fintech/SaaS/AI business along with acting as holding company for holding investments in group and third-party entities
Ownership Structure:
- The entity is being incorporated as wholly owned subsidiary of Zaggle Prepaid Ocean Services Limited
- The Company shall hold 100% of the shareholding in the proposed entity
Financial Arrangements:
- Initial capital: USD 10,000 (or INR equivalent)
- Investment structure: To be infused in one or more tranches in accordance with applicable local laws and requirements
- Consideration: Cash consideration
Regulatory Approvals:
- Required approvals: ADGM Registration Authority and any other approvals as may be required
- Incorporation process will be initiated
Company Officer:
Hari Priya, Company Secretary and Compliance Officer