Promoter bought 10,00,00,000 and non-promoters bought 14,25,00,000 shares of this multibagger penny stock via preferential issue!

The stock gave multibagger returns of 130 per cent from its 52-week low of Rs 2.66 per share.

Vikas Lifecare Ltd.'s board approved the allotment of 24.25 crore fully convertible warrants at a preferential price of Rs. 4 each. These warrants can be converted into regular shares by the holder within 18 months. The allotment was approved based on shareholder and stock exchange approvals received earlier. The warrants come with a lock-in period and may be listed on the stock exchange at the company's discretion.

The Promoter of the company (Mr Vikas Garg) was allocated 10,00,00,00 shares while the rest of the 14.25 shares were allocated to the non-promoters of the company (Ms Sneha Bhandari, Ms Rekha Bhandari, Mr Prajal Bhandari, Ms Charu Rathi, Sylph Technologies Ltd, Dues Manager Private Ltd, Srestha Finvest Ltd).  

Earlier, Vikas Lifecare Limited (VLL) along with its subsidiary, SKY2.0 announced that A7S, the Swedish artist behind the global hit "Breaking Me," will perform at the SKY2.0 Club in Dubai on March 2, 2024. A7S has collaborated with artists like Clean Bandit, Hardwell, and Lil Baby and is known for chart-topping tracks like "Your Love" and "Kernkraft 400." SKY2.0, Dubai's largest nightclub, promises an unforgettable experience with its open-air setting, cutting-edge technology, and world-class entertainment.

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 plunged 1.31 per cent to Rs 6.02 per share from its previous closing of Rs 6.10 with an intraday high of Rs 6.25 and an intraday low of Rs 6. 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 999 crore.

In January 2024, FIIs increased their stake to 6.78 per cent compared to 0.02 per cent in December 2023. The stock gave multibagger returns of 130 per cent from its 52-week low of Rs 2.66 per share.

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