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Jeena Sikho Lifecare Limited Approves Incorporation of Wholly Owned Subsidiary in UAE
Team Finance Saathi
31/Jan/2025
What's covered under the Article:
- Jeena Sikho Lifecare’s decision to incorporate a subsidiary in the UAE.
- Details of the proposed subsidiary, Jeena Sikho International LLC.
- Expansion plans of Jeena Sikho Lifecare in the healthcare sector through the UAE subsidiary.
In a Board Meeting held on January 31, 2025, Jeena Sikho Lifecare Limited (SYMBOL: JSLL) announced plans to incorporate a wholly owned subsidiary in the Sharjah Media City (SHAMS) Free Zone, United Arab Emirates (UAE). The new company will be named Jeena Sikho International LLC or any other name approved by the relevant regulatory authorities in the UAE.
The board has approved this move as part of its strategic decision to expand its healthcare business internationally. The LLC will be fully owned by Jeena Sikho Lifecare and aims to operate in the health and care industry. As a related party transaction, the acquisition will involve subscribing to 100% of the equity shares of the new subsidiary at “arm’s length” price, which will be at face value.
Key Details:
- Name of Subsidiary: Jeena Sikho International LLC (or another approved name).
- Industry: Health and Care.
- Nature of Consideration: The company will fund the venture through cash or via banking channels.
- Shareholding: 100% equity shares will be subscribed by Jeena Sikho Lifecare.
- Timeline: The incorporation is expected to be completed by the end of this fiscal year, subject to approval.
- Regulatory Approvals: None required as the process falls under the purview of standard regulatory practices in UAE.
This strategic expansion into the UAE market aligns with Jeena Sikho Lifecare’s mission to broaden its healthcare operations globally, potentially enhancing its market presence in the Middle East. The UAE Free Zone offers a business-friendly environment, making it an ideal location for this international foray.
The move highlights Jeena Sikho Lifecare’s commitment to diversifying its business and exploring new growth avenues in the healthcare sector, reinforcing its position in the global market.
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