Intimation under Regulation 30 of SEBI (LODR), Regulations, 2015 for incorporation of Wholly Owned Subsidiary Company in Dubai, UAE.
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Dev Labtech Venture Ltd has incorporated a wholly owned subsidiary named 'DEV LABTECH TRADING FZCO' in Dubai, UAE, with the Certificate of Registration issued on October 29, 2025 and the Trading Licence received on October 31, 2025 by the Dubai Multi Commodities Centre Authority (DMCCA). The new subsidiary has a share capital of AED 490,000 (490 shares of AED 1,000 par value each), which will be fully subscribed in cash by the parent company. The subsidiary will engage in trading of jewellery, diamonds, pearls and precious stones, aimed at expanding the company's global footprint and tapping into growth opportunities in the UAE market. No government or regulatory approvals beyond standard UAE incorporation requirements were needed, and there is no prior turnover history as the entity is newly incorporated.
This expansion move signals the company's intent to grow internationally in its core gems and jewellery trading business, which could open new revenue streams from the UAE market. For shareholders, it represents a small initial capital outlay (around ₹1.1 crore equivalent) with potential long-term upside if the Dubai operations scale up, though near-term financial impact will be limited.