Zota Health Care invests Rs 2 crore in wholly owned subsidiary Curexis Ventures

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AI summary

Zota Health Care acquired 10,00,000 equity shares of its wholly owned subsidiary Curexis Ventures via rights issue at Rs 20 per share, totalling Rs 2 crore. Curexis runs retail pharmacy stores under the SKIA brand and is into drug manufacturing and marketing. Its FY25-26 turnover was only Rs 1.18 lakhs, and it reported nil revenue in FY24-25. The investment is aimed at expanding SKIA stores and meeting working capital needs. Curexis remains a wholly owned subsidiary, so there is no change in control. The deal is at arm's length and not a related party transaction.

Likely market impact

Capital infusion into wholly owned subsidiary for SKIA store expansion; no change in control as Curexis was already fully owned by Zota.