Shaily Engineering Plastics Limited has announced the incorporation of its wholly-owned subsidiary, Shaily Medtech Devices Manufacturing Ltd, in Abu Dhabi, UAE. The new entity is set to focus on the manufacturing of medical devices, specifically pen injectors. The incorporation occurred on November 6, 2026, with an initial subscription amount of AED 10,00,000 planned.
New Subsidiary in UAE
Shaily Engineering Plastics Limited has officially incorporated a new wholly-owned subsidiary named Shaily Medtech Devices Manufacturing Ltd. The incorporation took place in Abu Dhabi, UAE, on November 6, 2026.
Focus on Medical Devices
This newly established entity will be dedicated to the manufacturing of Medical Devices, with a specific focus on Pen Injectors. This move signifies a strategic expansion into the healthcare sector for Shaily Engineering Plastics Limited.
Financial Details
The initial share capital of Shaily Medtech Devices Manufacturing Ltd is yet to be issued. The company has confirmed that the initial subscription amount will be AED 10,00,000, which is to be paid in cash through banking channels. The turnover of the entity is currently not applicable as it is yet to commence business operations.
Ownership and Structure
Shaily Medtech Devices Manufacturing Ltd will be 100% owned by Shaily Engineering Plastics Limited. The company has clarified that this incorporation does not fall within the purview of related party transactions, and neither the promoter nor any promoter group companies have any interest in the entity being acquired. The incorporation is considered an ‘arm’s length’ transaction.
Source: BSE
