Morepen Labs incorporates wholly owned subsidiary in Dubai
Gurugram: Morepen Labs has incorporated a wholly owned subsidiary, MOREPEN LABS - FZCO, in Dubai, United Arab Emirates.
The new entity was incorporated on June 18, 2025, in the Free Zone of Dubai, and will focus on trading in pharmaceuticals and medicines outside the UAE, the company said in a BSE filing.
"We are pleased to inform that “MOREPEN LABS - FZCO”, a wholly owned subsidiary of the company, has been incorporated today i.e., 18th June, 2025, in Free Zone, Dubai, United Arab Emirates," Morepen stated in a BSE filing.
According to the company, the authorized capital of Morepen Labs – FZCO is AED 50,000, divided into 5,000 ordinary shares of AED 10 each. The investment was made in cash.
The incorporated entity being a wholly owned subsidiary, is a related party of the company. The promoter/ promoter group do not have any interest in the newly formed entity.
As the entity is newly formed, no financial history or past turnover is applicable. No government or regulatory approvals were required for the incorporation.
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