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Paytm’s subsidiary, Paytm Cloud Applied sciences Restricted (PCTL), is about to obtain a 25% stake within the US-based fintech startup Seven Era LLC for ₹8.7 crore (US$1 million).
This transfer follows Paytm’s fresh announcement of plans to determine 3 new subsidiaries within the UAE, Saudi Arabia, and Singapore thru PCTL, aiming to increase its tech-driven cost and monetary products and services on a world scale.
Seven Era LLC serves because the dad or mum corporate of Dinie Correspondente Bancário e Meios de Pagamento Ltda, a Brazilian fintech platform that gives virtual monetary products and services to MSMEs in Brazil.
Following this announcement, One97 Communications’ proportion value larger through roughly 1% in morning buying and selling on February 3, attaining ₹750.75 (US$8.61) in step with proportion at the Bombay Inventory Trade (BSE).
The inventory later closed at ₹743.60 (US$8.53) in step with proportion.
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