Zota Health Care converts Rs 119.5 cr loan into equity in subsidiary Davaindia
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Zota Health Care acquired 2,35,512 equity shares of its wholly owned subsidiary Davaindia Health Mart for about Rs 119.52 crores (Rs 5,075 per share) on a preferential basis, by converting an outstanding unsecured loan plus accumulated interest into equity. Davaindia runs a Company Owned Company Operated generic pharmacy retail chain with 1,855 stores as of June 30, 2026, and its turnover rose sharply to Rs 267.71 crores in FY26 from Rs 109.93 cr in FY25. Post-acquisition, Davaindia remains a wholly owned subsidiary. The deal is not a related party transaction and was done at arm's length.
This debt-to-equity conversion reduces group debt on a consolidated basis and improves overall net worth, with no change in subsidiary ownership.