Zota Health Care Limited (ZOTA) announced on June 13, 2025, the acquisition of 1,18,518 equity shares of its Wholly Owned Subsidiary (WOS), Davaindia Health Mart Limited (DIHML), through a rights issue.
- The acquisition was made for a cash consideration of ₹49,24,42,290/-, at a cost of ₹4155 per equity share (including a premium of ₹4145 per share).
- This investment is considered a strategic move to support DIHML's working capital requirements.
- Post-acquisition, DIHML continues to remain a WOS of Zota Health Care Limited.
- DIHML, incorporated on January 01, 2020, operates a retail Generic Pharmacy chain under the Company Owned Company Operated (COCO) model of Davaindia Generic Pharmacy.
- It has a presence in 15+ states and 1 Union Territory, with approximately 900+ stores offering over 2000 SKUs including medicines, ayurvedic products, cosmetics, nutraceuticals, and OTC products.
- Financial details for DIHML:
- Turnover for Financial Year 2024-25: ₹109.93 crores
- Turnover for Financial Year 2023-24: ₹44.77 crores
- Turnover for Financial Year 2022-23: ₹14.61 crores
- Total paid-up share capital as of FY 2024-25: ₹2.13 crores
- The acquisition does not fall under related party transactions.