Zim Laboratories Limited has informed the Exchange about Acquisition - General Updates
ZIMLAB · price
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Zim Laboratories Limited has disclosed an investment of Rs. 89,45,100 (approximately Rs. 89.45 lakhs), equivalent to AUD 135,000, in the equity shares of ZIMTAS Pty Ltd, an Australian company. Following this investment, the company now holds 99.96% of the total share capital of ZIMTAS Pty Ltd, making it a near-wholly-owned subsidiary. This investment is part of a previously approved investment limit of up to Rs. 2.00 crores. The disclosure is made under SEBI LODR Regulation 30 and references earlier intimations from May and July 2024.
This acquisition gives Zim Laboratories significant control over its Australian subsidiary, strengthening its international footprint. Shareholders may view this positively as it represents expansion using approved capital within limits.