Mumbai, Feb. 19 -- The new entity will be named "QUICK MED" or any other name as approved by the Central Registration Centre, Ministry of Corporate Affairs.

The proposed company will operate in the pharmaceutical sector, with a focus on the 'Online Retail Pharmacy' business. This move aligns with DML's inorganic growth strategy to cater to the increasing demand in the online pharmacy market.

DML will contribute Rs 80,000 in cash, representing 80% of the initial subscription, by acquiring 8,000 equity shares at Rs 10 each in the proposed company. As a result, Morepen Laboratories will indirectly hold 80% of the shares in this new step-down subsidiary through DML.

Upon its incorporation, the proposed company will become a step-down subsi...