Morepen Laboratories Limited has announced its entry into the online retail pharmacy sector with the formation of a step-down subsidiary, Quick Med Private Limited. The company informed the stock exchanges on February 19, 2025, that the Board of Directors of Dr. Morepen Limited (DML), its wholly-owned subsidiary, approved the incorporation of the new entity.
Upon incorporation, Quick Med Private Limited will be a subsidiary of DML, making it a step-down subsidiary of Morepen Laboratories. The company aims to leverage the rising demand in the online pharmacy segment as part of its inorganic growth strategy.
Key details about the new subsidiary:
- Industry: Pharmaceuticals, with a focus on online retail pharmacy.
- Holding structure: Dr. Morepen Limited (DML) will be the direct holding company, while Morepen Laboratories Limited (MLL) will be the ultimate holding entity.
- Investment details: DML will invest ₹80,000 in cash, acquiring 8,000 equity shares at ₹10 each, representing an 80% stake in Quick Med Private Limited.
- Regulatory approvals: No specific government or regulatory approvals are required for incorporation.
The new subsidiary marks Morepen Laboratories’ strategic move into the growing online pharmacy market, positioning itself to tap into the increasing digital healthcare trend in India.
The date of incorporation will be announced in due course after approval from the Central Registration Centre, Ministry of Corporate Affairs.