|
KSC LLC was engaged in the business of treatment of dermatology, laser complexion care at Ras Al Khaimah region. The turnover of the business of KSC LLC was already part of the financials of KME FZE.
The wellness company said that the acquisition is pursuant to recent amendments in the foreign investment regulations in the UAE, which liberalized the foreign investment ownership regime, KME FZE was authorised by the Ras AlKhaimah Health Authority to acquire 99% ownership in KSC LLC.
This prompted the conversion of KSC LLC from a sole establishment into a limited liability company on 23 June 2023. KME FZE has now acquired 99% stake in KSCLLC on 11 July 2023.
The 100% shareholding in KSC LLC is equivalent to 1,50,000 shares of face value AED 1 each.
Kaya is leading specialty skin care, solution provider in India and Middle east either directly or through one or more of its subsidiaries. It delivers holistic skincare solutions through its range of Kaya Skin Clinics and product retail format called Kaya Skin Bar.
On a consolidated basis, Kaya reported net loss of Rs 56.37 crore in Q4 FY23 as against net loss of Rs 41.51 crore in Q4 FY22. Similarly, net sales rose 10.9% to Rs 92.60 crore in the quarter ended 31 March 2023.
Shares of Kaya fell 1.36% to Rs 334.10 on the BSE.
|