Promoter was allocated 2,00,00,000 shares and non-promoters were allocated 3,61,00,000 shares of this penny stock below Rs 6

From Rs 2.66 per share (52-week low) to today’s intraday high of Rs 4.99 per share, the stock gave 87.6 per cent returns.

Vikas Lifecare Limited (VLL) has approved the allotment of 5,61,00,000 new equity shares to both promoters and non-promoter/public category investors. These shares were converted from warrants previously issued by the company. Each warrant holder will receive one share for every warrant they hold, for Rs 4 per share (including a premium of Rs 3). This preferential allotment requires warrant holders to pay the remaining balance of Rs 3 per warrant (which represents 75 per cent of the issue price) to convert their warrants into equity shares. This follows the regulations set by SEBI (ICDR) and brings the company's total issued capital to Rs 1,65,01,68,560.

The promoter of the company (Mr Vikas Garg) was allocated 2,00,00,000 shares in conversion of warrants. Additionally, the non-promoters of the company was aggregrating allocated 3,61,00,000 shares wherein Sylph Technologies Ltd was allocated 2,86,00,000 shares, Ms Prajal Bhandari was allocated 25,00,000 shares, Ms Rekha Bhandari was allocated 25,00,000 shares and Ms Sneha Bhandari was allocated 25,00,000 shares.

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Vikas Lifecare Limited (VLL) is an ISO 9001:2015 certified company specialising in manufacturing and trading 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 plunged 0.98 per cent to Rs 5.04 per share from its previous closing of Rs 5.09 per share. 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 over Rs 800 crore. From Rs 2.66 per share (52-week low) to today’s intraday high of Rs 4.99 per share, the stock gave 87.6 per cent returns.

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