Multibagger penny stock under 10: This small-cap company announces acquisition of substantial stakes in SKY 2.0 Club, Dubai (UAE) for USD 79 million – know more here!
The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 2.66 per share.
Vikas Lifecare Limited (VLL) makes the largest investment till date, in the acquisition of major stakes in the renowned SKY 2.0 Club, Dubai. The acquisition is a share swap deal signed between Vikas Lifecare Limited and the holding company Blue Sky Event Hall FZ-LLC, Dubai, for the acquisition of 60 per cent stakes in the SKY 2.0 Club business and all future business ventures in the relevant business segment at an enterprise valuation of about USD 130 Million. The acquisition process shall be completed within this fiscal year.
About SKY 2.0 Club, Dubai: In the heart of Dubai Design District, SKY 2.0 reigns as the Middle East and Asia's largest open-air nightclub. Forget the ordinary; this architectural marvel is a sensory playground. Soaring under the stars, it blends cutting-edge technology with visionary design. Bendable screens, dazzling lights, and a pulsating sound system wrap the sphere-shaped venue in an immersive experience. From Shah Rukh Khan to international rap icons, SKY 2.0 has hosted the stars, guaranteeing unforgettable nights with world-class entertainment and impeccable service. Step into the future of nightlife at SKY 2.0.
About The Nightclub Business: SKY 2.0 recorded about USD 22.10 million of gross revenues accrued from the business during 2023, with about 38.80 per cent net profit margin and about 36 per cent growth in revenues registered compared with the preceding year.
The nightclub business on the global level aggregates about USD 31.46 billion while accelerating at a CAGR of 8.07 per cent, whereas on one hand the home turf for VLL, India with 25 per cent of the Population aged below 25 Years surfing on the surge in disposable income of Indians, growing at an exorbitant 17.4 per cent, and the shift towards modern cultural paradigm, offers a huge, virgin and niche market, which is merely a dot in the numbers put up by the global revenues generated from the clubbing businesses.
Earlier, in a bold diversification move, Vikas Lifecare acquired a 50 per cent stake in Dubai's renowned event organizer PME Entertainment, gaining access to their global expertise and prestigious clientele while injecting over Rs 100 crore to unlock exciting prospects in the dynamic entertainment and event industry, solidifying their position as a forward-thinking player in the evolving business landscape.
Additionally, Genesis Gas Solutions (a subsidiary company of Vikas Lifecare Ltd) and Indraprastha Gas Limited have officially launched their joint venture "IGL Genesis Technologies Limited" with a Rs 108 crore smart meter manufacturing plant in Noida, with Genesis contributing Rs 18.1 crore and IGL holding a 51 per cent stake. This plant, targeting July 2024 operation, will initially produce 10 lakh smart meters annually equipped with IoT features and in-built analytics.
Vikas Lifecare Ltd, a leading trader and manufacturer of polymer, rubber compounds and additives for plastics, synthetic & natural rubber, infra, agro products, FMCG products, etc. Foreign Institutional Investors (FIIs) bought 10,41,65,000 shares via preferential issue of shares. Coeus Global Opportunities Fund bought 4,16,50,000 shares, AG Dynamic Funds Limited bought 3,17,90,000 shares and Nakshatra Stressed Assets Fund bought 3,07,25,000 shares.
On Saturday, shares of Vikas Lifecare plunged 0.89 per cent to Rs 6.70 per share from its previous closing of Rs 6.76 with an intraday high of Rs 6.92 and an intraday low of Rs 6.66. The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 2.66 per share. Investors should keep an eye on this micro-cap stock.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Related articles
-
Multibagger penny stock below 10: This small-cap company acquired 50 per cent equity of Portfolio Managing Events LLC, Dubai, UAE for Rs 100 crore – know more here!
-
Rs 15,00,00,000 investment: This small-cap company acquired 7.5 per cent equity in the popular news channel Bharat Express News
-
3,00,00,000 shares allocated to promoter & 50,00,000 shares allocated to non-promoter: Multibagger penny stock below Rs 6 in green on conversion of warrants!
-
From Rs 15.01 to Rs 36.66 per share in just 345 days: Multibagger penny stock was locked in upper circuit on March 07, PAT zooms over 150 per cent!
-
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!
-
Multibagger penny stock below Rs 7 in green as the company and its subsidiary, announce special guest appearance of A7S at the SKY2.0 Club, Dubai
-
Multibagger penny stock below Rs 10: This small-cap company along with its subsidiary, PME Entertainment continue to shine as Miss World Heads to Mumbai
-
Multibagger penny stock below Rs 10 & FIIs increase stake: This small-cap company presents two spectacular events in Dubai - Arijit Singh & Dr Kumar Vishwas; details inside
-
Multibagger penny stock below Rs 10: This small-cap company along with its subsidiary, PME Entertainment - announces formal commencement of Miss World Event in India
-
Multibagger airline stock below Rs 80 & FIIs bought 2,84,817: Ajay Singh & Busy Bee Airways Private Limited submit bid for GoFirst – know more here!
-
Multibagger penny stock hit all-time high on February 16: FIIs bought over 1.5 crore shares and company reported an 81.6 per cent jump in net profit!
-
Multibagger penny stock at Rs 22: This electrical equipment company bags new orders worth Rs 40,00,00,000 in West Bengal
-
Multibagger penny stock below Rs 7 & FIIs increase stake: This meters manufacturing company bags reputed orders for most advanced state-of-the-art ultrasonic gas meters
-
FIIs bought 7,40,70,000 shares of multibagger stock below Rs 10 via QIP; Company signed MoU with Indraprastha Gas Ltd for manufacturing smart gas meters in India
-
Multibagger penny stock below Rs 10: This micro-cap company is expanding its business in Jammu and Kashmir by setting up 2 more procurement facilitation centres!
-
Multibagger penny stock below Rs 70 and FIIs & DIIs increase stake: Airline stock in green after NCLT rejects Wilmington Trust's insolvency petition claim – know more here!
-
Multibagger penny stock under 10: This small-cap company got Rs 50,00,00,000 fundraising approval from Bombay Stock Exchange and National Stock Exchange!
-
Multibagger penny stock under Rs 2: This micro-cap company ventures into the Heart of Cinema with new movie Amreen – know more here!
-
Sangeetha S bought 33,36,900 shares & FIIs bought 1,53,48,927 shares of this multibagger penny stock; Board approved allotment of 6 lakh warrants into equal number of equity shares!
-
Multibagger penny stock under Rs 50 and promoters & FIIs increase stake: This auto company approved conversion of 60,00,000 warrants into equal number of equity shares!