Zota Health Care Limited has informed the Exchange about Acquisition of 1,18,518 Equity shares of M/s Davaindia Health Mart Limited
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Zota Health Care Limited has acquired 1,18,518 additional equity shares in its wholly owned subsidiary, Davaindia Health Mart Limited (DIHML), by subscribing to a rights issue. The shares were acquired at Rs. 4,155 per share (including a premium of Rs. 4,145), amounting to a total investment of approximately Rs. 49.24 crores in cash. DIHML operates a retail generic pharmacy chain (Davaindia Generic Pharmacy) under a Company Owned Company Operated (COCO) model, with 900+ stores across 15+ states and 1 Union Territory. DIHML's turnover has grown rapidly from Rs. 14.61 crores in FY23 to Rs. 44.77 crores in FY24 to Rs. 109.93 crores in FY25. DIHML continues to remain a wholly owned subsidiary of Zota after this acquisition.
This is a capital infusion into Zota's fast-growing generic pharmacy retail subsidiary, signaling management's confidence in DIHML's strong growth trajectory (revenue more than doubled in FY25). Shareholders should view this positively as it strengthens the core retail pharmacy business, though it represents a significant cash deployment of around Rs. 49 crores.