Delhi company likely to raise further Rs.200cr
Forbes EMF, Nomura Singapore and AG Dynamic have strongly supported Rs.50 crore raised through qualified institutional placement (QIP) by Vikas Lifecare which is likely to further raise Rs 200 crore via QIP route.
Forbes EMF has been allotted 5.4 crore equity shares or 43.2%, whereas Nomura Singapore Ltd has been given 4.4 crore equity shares or 35.2 per cent.
The remaining 2.7 crore shares, or 21.6%, have been allotted to AG Dynamic Funds Limited, Vikas Lifecare said on 7 June 2022.
In the QIP, only three bidders have bagged the entire allocations of the equity shares, aggregating to 100%, under the Foreign Portfolio Investment (FPI) category.
Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the company stands increased to Rs 122.70 crore, the company said in a regulatory filing.
Furthermore, Vikas Lifecare Limited, formerly known as Vikas Multicorp Limited, will raise funds, aggregating to Rs.150 crore in the subsequent tranches.
Delhi-based Vikas Lifecare Limited, incorporated in 1995, engages in the trading of various chemical compounds, polymers, PVC resins, plastic granules, and products related to the plastic industry in India. It operates through Real Estate, Trading- Polymers, Trading-Cashew Nuts, and manufacturing divisions. fiinews.com
