Promoter bought 10,00,00,000 of this multibagger penny stock at Rs 6 via preferential issue: Company receives another patent from Government of India; details inside!

The stock gave multibagger returns of 125 per cent from its 52-week low of Rs 2.66 per share.

Vikas Lifecare Limited (VLL), announced that the company have been granted a new patent by the Indian Patent Office, Government of India, for its innovative process for recycling multi-layered plastics and converting these into granules and products for Societal Applications. Patent No. 513213, with application number 202111047308, was granted on February 21, 2024.

Multi-layered plastics are extensively used in the food and packaging industry due to their lightweight nature, non-toxic properties, good barrier properties and resistance to humidity and bacterial growth i.e., chips packets, milk powder pouches and namkeen packets etc. However, the disposal of multi-layered plastic waste poses a significant environmental challenge as it is non-biodegradable and typically consists of different layers of plastics such as low-density polyethene (LDPE), polypropylene (PP), polyethene terephthalate (PET), and a metalised aluminium layer. Incineration of these waste multi-layered plastics leads to environmental pollution.

Vikas Lifecare Limited's patented innovation focuses on utilising multi-layered plastics to design materials for making tiles and various products like pallets for the general public, thereby providing societal benefits. The process involves two approaches to recycling multilayered plastics. The first method separates the different layers of plastics into multi-layered plastics using a chemical route and utilizes the separated layers for end applications in making granules. The second method recycles multi-layered plastics as-is by giving them specific treatment and then making granules containing all three layers of plastics. These granules are then used to make different end products such as paver interlocking tiles and floor tiles.

This patent underscores Vikas Lifecare Limited's commitment to innovation and sustainability. The company continues to explore new avenues to contribute positively to society and the environment through its research and development efforts.

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.  

Earlier VLL issued 24.25 crore convertible warrants at Rs. 4 each, convertible to regular shares within 18 months, with shareholder and exchange approval. The warrants have a lock-in period and may be listed on the stock exchange. Promoter Vikas Garg received 10 crore shares, while the remaining 14.25 crore were allocated to non-promoters Sneha Bhandari, Rekha Bhandari, Prajal Bhandari, Charu Rathi, Sylph Technologies Ltd, Dues Manager Private Ltd, and Srestha Finvest Ltd.

Today, shares of Vikas Lifecare Ltd hit a 5 per cent upper circuit to Rs 5.97 per share from its previous closing of Rs 5.69 with an intraday high of Rs 5.97 and an intraday low of Rs 5.75. 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 955 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 125 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.