Global giants Nomura and Forbes EMF buy a stake in this company

Through the qualified institutional placement (QIP), the diversified-listed conglomerate will be launching Rs 50 crore from the investors.

Vikas Lifecare Limited, formerly known as Vikas Multicorp Limited, is likely to raise Rs 200 crore through a qualified institutional placement (QIP) route. The company will raise funds in tranches. In the first tranche, the board has approved raising Rs 50 crore. The remaining Rs 150 crore will be raised via subsequent tranches by the company.   

Through this qualified institutional placement (QIP), the diversified-listed conglomerate will be launching Rs 50 crore from the investors by allotting the shares at a price of Rs 4 per share, including a premium of Rs 3 apiece. In the QIP, only three bidders have bagged the entire allocations of the equity shares, aggregating to 100 per cent, under the FPI category.  

Forbes EMF has been allotted 5.4 crore equity shares or 43.2 per cent shares. Meanwhile, Nomura Singapore Ltd has been given 4.4 crore equity shares, or 35.2 per cent. The remaining 2.7 crore shares or 21.6 per cent have been allotted to AG Dynamic Funds Limited.  

Vikas Lifecare Ltd is an India-based polymer and polymer-related trading company. The company is engaged in the business of trading various chemical compounds, polymers, polyvinyl chloride resins, plastic granules, and other items related to the plastic industry. The stock soared 60 per cent in less than six months and also, delivered returns of 15 per cent over the period of one month. Keep a close eye on this scrip for the upcoming sessions.