Zota Health Care Limited has announced the acquisition of 3,95,348 equity shares in its wholly-owned subsidiary, Davaindia Health Mart Limited (DIHML), through a subscription to a rights issue. The acquisition took place on January 17, 2026.

DIHML is engaged in operating a retail generic pharmacy chain under the Company Owned Company Operated (COCO) model. As of the audited financial statements for the Financial Year 2024-25, DIHML reported a turnover of ₹109.93 crore and a total paid-up share capital of ₹2.13 crore. The company was incorporated on January 01, 2020, and operates COCO stores for Davaindia Generic Pharmacy across 25 states and 5 Union Territories, with 1438 stores as of December 31, 2025. It offers over 2000 SKUs including medicines, Ayurvedic, cosmetic, nutraceutical, and OTC products.

The turnover for DIHML in the last three financial years was Rs. 109.93 crore (FY 2024-25), Rs. 44.77 crore (FY 2023-24), and Rs. 14.61 crore (FY 2022-23). The acquisition does not involve related party transactions, and promoters/promoter group/group companies have no interest in DIHML. The acquisition is considered a strategic investment to expand the COCO stores and meet working capital requirements. The cost of acquisition for the 3,95,348 equity shares was ₹4300 per share, aggregating to ₹1,69,99,96,400 (169.99 crore). Following this acquisition, DIHML continues to be a wholly-owned subsidiary of Zota Health Care Limited.