3,00,00,000 shares allocated to promoter & 50,00,000 shares allocated to non-promoter: Multibagger penny stock below Rs 6 in green on conversion of warrants!

In February 2024, FIIs increased their stake to 11.05 per cent compared to 0.02 per cent in December 2023.

Vikas Lifecare Ltd (VLL) informed that the company's Board of Directors approved the conversion of 3,50,00,000 warrants into the same number of equity shares at Rs 4 each (including a Rs 3 premium). This follows the allotment of warrants communicated earlier on March 2, 2024. The conversion is offered to both promoters and non-promoters upon receipt of the remaining Rs 3 per warrant (75 per cent of the issue price).

The promoter of the company, Vikas Garg was allocated 3,00,00,000 equity shares and the non-promoter of the company, Charu Rathi was allocated 50,00,000 shares. This conversation of warrants/allotment of Equity Shares, the issued and paid-up capital of the Company stands increased to Rs. 165,01,68,560/-consisting of 165,01,68,560 equity shares of Re. 1/- each.

Vikas Lifecare Limited was granted a patent for their innovative process that recycles multi-layered plastics (commonly used in packaging) into granules and useful products like tiles, reducing environmental impact by offering an alternative to incineration. Their two-pronged approach involves either separating the plastic layers for individual use or recycling them together into new materials. This patent highlights the company's dedication to sustainability through research and development.

Vikas Lifecare Limited (VLL) is an ISO 9001:2015 certified company specializing in the manufacture and trade of polymer and rubber compounds, including environmentally-conscious upcycled materials. VLL supports government sustainability initiatives and works as a Del-Credere agent for ONGC Petro Additions Limited. Their subsidiary, Genesis Gas Solutions Pvt Ltd., is a leading provider of Smart Gas Meters. To accelerate growth, VLL has diversified into B2C products (FMCG, Agro, Infrastructure) and is strategically expanding into the entertainment sector (including nightclubs, music production, and film production) to fuel further business growth within India and internationally.  

Today, shares of Vikas Lifecare Ltd surged 2 per cent to Rs 5.19 per share from its previous closing of Rs 5.09 with an intraday high of Rs 5.19 and an intraday low of Rs 5.05. The stock’s 52-week high is Rs 7.92 while its 52-week low is Rs 2.66. The company has a market cap of Rs 830 crore. In February 2024, FIIs increased their stake to 11.05 per cent compared to 0.02 per cent in December 2023. The stock gave multibagger returns of 120 per cent in 3 years.  

Disclaimer: The article is for informational purposes only and not investment advice.