Penny Stock Announces Update On Warrants, FIIs Stake Rises From 0.02% To 11.05%

Small cap company Vikas Lifecare Ltd shares today gained 3.14% till 1:26 pm after it announced conversion of 3.5 crore warrants into equity shares on March 20, 2024, according to the BSE filing of the company. Last trading price of Vikas Lifecare share on BSE is Rs 5.25 apiece. Vikas Lifecare shares zoomed over 6% year-to-date and gained 57% in last 1-year. It is worth mentioning here as of February 2024, FIIs increased their stake in Vikas Lifecare Ltd from 0.02% in December 2023 quarter to 11.05% in February 2024 as they bought 178480281 shares of the company. Check details below:

Vikas Lifecare Declares Conversion of 3.5 Crore Warrants Into Equity: According to the BSE filing of the company dated March 21, 2024, "we wish to inform you that the Board of Directors of the Company in their meeting held today i.e. Wednesday, March 20, 2024, considered and approved the allotment of equity shares on conversion of 3,50,00,000 warrants into 3,50,00,000 equity shares at an issue price of Rs. 4/- each (including a premium of Rs. 3/- each), to "Promoter and Non-Promoters/Public Category", on preferential basis, upon receipt of balance amount aggregating to Rs. 10,50,00,000/- (Rupees Ten Crore and Fifty 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 Shares Performance & Return: The 52-week high price of Vikas Lifecare stock on BSE is Rs 7.92 apiece and 52-week low price is Rs 2.66 apiece, respectively. The company has a market capitalisation of Rs 847.96 crore. Vikas Lifecare shares declined 17% in last 1-month, gained 6% in last 3-months, soared 57% in last 1-years, and offered return of 100% in last 3-years.

FIIs Increase Stake In Vikas Lifecare: The stock has backing of FII (Foreign Institutional Investors). As of February 2024, FIIs have 11.05% stake in Vikas Lifecare. AG Dynamic Funds Limited has 3.44% stake in Vikas Lifecare followed by Coeus Global Opportunities Fund (2.58%), Nakshatra Stressed Assets Fund (1.90%), and Radiant Global Fund (1.83%), among others.

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.