This share below Rs 10 to raise Rs 50 crore via QIP route

The allocation has been split equally between the two investors, AG Dynamic Funds and Citrus Global Arbitrage Fund with an allocation of 5,20,83,333 shares of Rs 25 crore each.

The shares of Vikas Lifecare Ltd got locked in the upper circuit and were trading at a price of Rs 5.40 per share on August 26, the company informed via an exchange filing. The shares of Vikas Lifecare zoomed 103 per cent in only four months of IPO.   

Vikas Lifecare Limited received Rs 50 crore via qualified institutional placement (QIP). This was the second round of funding announced by Vikas Lifecare, formerly known as Vikas Multicorp, to raise Rs 200 crore under the QIP route. In June 2022, the first tranche was released.  The most recent QIP tranche was distributed to two FPI category investors for a total of Rs 50 crore at a price of Rs 4.8 per equity share.  

The allocation has been split equally between the two investors, AG Dynamic Funds and Citrus Global Arbitrage Fund with an allocation of 5,20,83,333 shares of Rs 25 crore each. The paid-up equity share capital of the firm has increased to Rs 1,33,12,37,657 as a result of the equity share allocation (including outstanding partly paid-up shares).  

Vikas Lifecare Ltd raised Rs 50 crore in June of this year through the sale of 12.5 crore equity shares as part of another tranche of QIP. Forbes EMF, Nomura Singapore, and AG Dynamic Funds split the whole allotment in its preceding QIP tranche. In succeeding tranches, the company will raise the remaining cash, totalling Rs 100 crore.  

Vikas Lifecare Limited trades several chemical substances, polymers, PVC resins, plastic granules, and goods associated with the Indian plastic industry. Its real estate, trading polymers, trading-cashew nuts, and manufacturing departments all conduct business.