Promoter acquired 3,00,00,000 equity shares in this penny stock (Rs 6) on warrant conversion!

From Rs 2.66 per share (52-week low) to today’s intraday high of Rs 5.27 per share, the stock is up by 98.12 per cent.

Vikas Garg, the Promoter/Promoter Group of Vikas Lifecare Limited, declares the acquisition of 3,00,00,000 equity shares of the company on a preferential basis through the conversion of warrants, as per SEBI (ICDR) Regulations, 2018, involving payment of Rs 9,00,00,000 at Rs 3 per warrant (75 per cent of the issue price) and Rs 3,00,00,000 at Rs 1 per warrant (25 per cent of the issue price) initially paid. This acquisition increases his stake from 8.88 per cent to 10.15 per cent, totalling 19,38,13,968 shares, inclusive of the newly acquired shares.

Additionally, the non-promoter of the company, Charu Rathi was allocated 50,00,000 shares. In this conversation of warrants/allotment of equity shares, the issued and paid-up capital of the company stands increased to Rs 1,65,01,68,560 consisting of 1,65,01,68,560 equity shares of Rs 1 each.

Vikas Lifecare Limited was granted a patent for their innovative process that recycles multi-layered plastics (commonly used in packaging) into granules and useful products like tiles, reducing environmental impact by offering an alternative to incineration. Their two-pronged approach involves either separating the plastic layers for individual use or recycling them together into new materials. This patent highlights the company's dedication to sustainability through research and development.

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 2.84 per cent to Rs 5.14 per share from its previous closing of Rs 5.29 with an intraday high of Rs 5.27 and an intraday low of Rs 5.09. 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 830 crore. From Rs 2.66 per share (52-week low) to today’s intraday high of Rs 5.27 per share, the stock is up by 98.12 per cent.

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