Update - intimation for subscription of shares of Wholly Owned Subsidiary Company namely "Dev Labtech Trading FZCO" (UAE)
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Dev Labtech Venture Ltd has completed the subscription of 100% shares in its wholly-owned subsidiary, Dev Labtech Trading FZCO, based in Dubai, UAE. The company paid AED 4,90,000 on March 13, 2026, for 490 equity shares of AED 1,000 each, fully capitalizing the new subsidiary. The UAE entity was incorporated on October 29, 2025, and will engage in trading of jewellery, diamonds, pearls, and precious stones. This move is aimed at expanding the company's global footprint and tapping into growth opportunities in the UAE markets, which is a major hub for diamond and precious stones trade.
This is a modest capital deployment into a 100%-owned subsidiary aligned with the company's existing jewellery and diamond business, supporting international expansion into a key trading hub. While the financial outlay is small and unlikely to move the stock materially, it signals management's intent to grow beyond domestic operations and access UAE-based diamond and precious stone markets.