Vikas Lifecare zooms on getting nod to invest Rs 250 crore in Kohinoor Foods
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Vikas Lifecare is currently trading at Rs. 4.83, up by 0.39 points or 8.78% from its previous closing of Rs. 4.44 on the BSE.
The scrip opened at Rs. 4.44 and has touched a high and low of Rs. 4.84 and Rs. 4.30 respectively. So far 4295158 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 7.24 on 08-Feb-2022 and a 52 week low of Rs. 3.63 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 4.84 and Rs. 4.42 respectively. The current market cap of the company is Rs. 693.85 crore.
The promoters holding in the company stood at 11.36%, while Institutions and Non-Institutions held 8.07% and 80.57% respectively.
In line with the company’s pre-defined long-term growth strategies, Vikas Lifecare’s Board of Directors has accorded their approval to invest up to Rs 250 crore in Kohinoor Foods, with an objective of broad-basing the company’s product portfolio, and strengthening its positioning in industry matrix, complimenting and supplementing the existing business lines of the company by way of fresh equity, quasi capital, or any combination thereof, and to enter into definite agreement with the existing promoters of Kohinoor Foods for acquiring substantial stake in it, subject to necessary statutory approvals and due diligence.
This acquisition will enable Vikas Lifecare to augment its product portfolio and enhance market presence in FMCG space, which currently includes at a nascent stage. This investment is in line with the company future-oriented growth strategy articulated to focus on building a robust portfolio of products.
Vikas Lifecare is engaged in trading and manufacturing of polymer, rubber compounds and additives for plastics, synthetic & natural rubber.
