Shaily Engineering Plastics Limited has incorporated a wholly owned subsidiary company named Shaily Medtech Devices Manufacturing Ltd in Abu Dhabi, UAE on November 6, 2026.
The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
Subsidiary Details
- Name: Shaily Medtech Devices Manufacturing Ltd
- Location: Abu Dhabi, UAE
- Business Activity: Manufacturing of Medical Devices (Pen Injectors)
- Incorporation Date: November 6, 2026
- Issued Share Capital: Yet to be issued
- Turnover: Entity is yet to commence business operations
Ownership Structure
- 100% shareholding will be held by Shaily Engineering Plastics Limited
- The initial subscription to share capital will not fall within the purview of Related Party Transaction
- None of the promoter/promoter group/group companies have any interest in the incorporation
Financial Details
- Consideration Type: Cash through banking channels
- Initial Subscription Amount: AED 10,00,000 (1,000,000 AED)
- Subscription Status: Yet to be made by Shaily Engineering Plastics Limited
Regulatory Aspects
- No governmental or regulatory approvals required for the acquisition
- The incorporation is already complete (not applicable for completion timeline)
- The subsidiary will operate in the medical devices manufacturing sector, specifically pen injectors