FII-Backed Penny Stock Issues New Update On Warrants, Shares Gain 111% In 3-Yrs

Small cap company Vikas Lifecare Ltd shares today witnessed decline of 0.80% at 1:21 pm to Rs 4.99 per share. The company operates in Trading & Distributors sector. Vikas Lifecare shares declined 26% in last 3-months and gained 58% in last 1-year. Today Vikas Lifecare informed via its BSE about the conversion of 5,61,00,000 warrants into equal number of equity shares of the company. Earlier this year acquired a considerable stake in Benchmark News Lab Private Limited by making an investment of INR 150 Million to acquire 7.5% Equity in the popular News Channel Bharat Express News.

Vikas Lifecare Issues Update On Conversion: As per the regulatory filing of the company dated April 19, 2024, "Board of Directors of the Company in their meeting held today i.e. Thursday, April 18, 2024, considered and approved the allotment of equity shares on conversion of 5,61,00,000 warrants into 5,61,00,000 equity shares of face value of Re. 1/- each at an issue price of Rs. 4/- each (including a premium of Rs. 3/- each), to "Promoters" and "Non-Promoters, Public Category", on preferential basis, upon receipt of balance amount aggregating to Rs. 16,83,00,000/- (Rupees Sixteen Crores and Eighty Three Lakhs Only) at the rate of Rs. 3/- (Rupees Three only) per warrant (being 75% of the issue price per warrant) from the allottees pursuant to the exercise of their rights of conversion into equity shares in accordance with the provisions of SEBI (ICDR) Regulations, 2018."

Vikas Lifecare Acquires Stake In Bharat Express News: Earlier the company informed through the exchange filing, "Vikas Lifecare Limited is glad to announce that the Company has acquired a considerable stake in Benchmark News Lab Private Limited. The Company has invested INR 150 Million to acquire 7.5% Equity in the popular News Channel Bharat Express News. The company may enhance its stakes in the venture and also the relevant industry during the upcoming Financial Year 2024~25."

Vikas Lifecare Shares Performance: The 52-week high price of Vikas Lifecare share on BSE is Rs 7.92 per share (as on 23/01/2024) and 52-week low price is Rs 2.66 per share (as on 24/05/2023), respectively. The company has a market capitalisation 805.97 crore. The company has a PE 167.00 and EPS (TTM) of 0.06. Vikas Lifecare shares offered return of 2.25% in last 6-months, declined over 6% in last 2-years, and surged 111% in last 3-years.

FIIs Stake In Vikas Lifecare: The stock has backing of FII (Foreign Institutional Investors). As of April 2024, FIIs have 10.49% stake in Vikas Lifecare with 178,480,281 shares, according to Trendlyne.

Vikas Lifecare About: Vikas Lifecare Limited (VLL) is engaged in manufacturing and trading of Polymer and Rubber compounds and Specialty Additives for Plastics, Synthetic & Natural Rubber. Polymer & Rubber Commodity (bulk consumption) Compounds and Master-Batches (Manufacturing up- cycled compounds from industrial and post-consumer waste materials like EVA, PVC, PP, PE etc.), contributing to the Environment Protection initiatives from the Government of India and fulfilling the mandated EPR obligations for the conglomerates consuming hundreds of thousands of tons of plastic products and packaging materials.