Penny stock below ₹5: Vikas Lifecare share price rises after fundraise move | Stock Market News
Source: Live Mint
Penny stock below ₹5: Vikas Lifecare share price rises in the intraday trades on Friday after fundraise move.
The Penny stock Vikas Lifecare share price opened at ₹4.44 on Friday on the BSE, slightly higher than the previous days closing price of ₹4.43. However the Penny stock Vikas Lifecare share price theerafter gained up to 1.8% to intraday high of ₹4.51 marking gains of almost 2% despite weakness in the markets
Vikas Lifecare share price has risen more than 6% during last one month and rebounded well from 52 week or 1 year low of ₹4.05 seen in November 2024.
The Board of Directors of Vikas Lifecare on Friday, December 20, 2024 at the Registered Office of the Company approved the raising of funds and issuance of securities by the company
As per the company in order to augment the long-term resources and to fund organic/inorganic growth opportunities in the area of the company’s operations and adjacencies, it plans raising of funds, subject to all necessary approval, as applicable, by way of issuance of equity shares or any combination thereof through QIP, FCCB, Further Public Offering and Rights issue or through any other permissible mode or a combination of modes.
The approved fund raising by the board of Vikas Lifesciences in of not more than ₹200 Crore (Rupees Two Hundred Crore)
Vikas Lifecare recently also had announced Establishment of New Manufacturing Facility Under Rajasthan Investment Promotion Scheme (RIPS). The facility will specialize in manufacturing advanced commodity compounds, including EVA, ATH, Thermoplastic Rubber, and Thermoplastic Elastomer.
The manufacturing facility will be establlished in the Shahjahanpur RIICO Industrial Area, spanning 20,000 square feet
Vikas Lifecare Limited is an ISO 9001:2015 certified company, conventionally engaged in manufacturing and trading of Polymer and Rubber compounds and Specialty Additives for Plastics, Synthetic & Natural Rubber.
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