Subsidiary6 Nov 2026, 04:24 pm
Shaily Engineering Incorporates Wholly Owned Subsidiary in UAE
AI Summary
Shaily Engineering Plastics Ltd has announced the incorporation of its wholly owned subsidiary, Shaily Medtech Devices Manufacturing Ltd, in Abu Dhabi, UAE, on November 6, 2026. The subsidiary is established for the manufacturing of medical devices, specifically pen injectors. The initial share capital subscription of AED 1,000,000 (approximately ₹2.27 Crore) is yet to be made in cash. This move is part of the company's expansion into the medical device sector. The incorporation does not fall under related party transactions, and no promoter or group companies have an interest in this new entity.
Key Highlights
- Shaily Engineering Plastics Ltd incorporated a WOS in Abu Dhabi, UAE.
- The subsidiary, Shaily Medtech Devices Manufacturing Ltd, will produce medical devices (pen injectors).
- Initial investment of AED 1,000,000 (approx. ₹2.27 Cr) to be made in cash.
- The incorporation is not a related party transaction.
- 100% shareholding in the subsidiary will be held by Shaily Engineering Plastics Ltd.
Price Impact
More from SHAILY