Vikas Lifecare Limited to issue 2:5 rights shares at Rs. 1.85 per share

The Board of Directors of Vikas Lifecare Limited (formerly Vikas Multicorp Limited) at its meeting held today, May 17, 2021 have, considered and approved the terms of the Rights Issue.

The board approved issue of up to 26,53,98,198 fully paid-up Equity Shares of face value of Re. 1/- each for an amount aggregating upto 4909.87 Lakhs. The rights issue ratio is fixed as 2 Equity Shares for every 5 Equity Shares held by the Eligible Equity Shareholders in the Company as on the record date with the right to renounce.

The issue price is Rs. 1.85/- per Rights Equity Share (including premium of Re. 0.85/- per Rights Equity Share. May 21, 2021 is fixed as the record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (“Eligible Equity Shareholders”).

The Rights Issue Opens on May 27, 2021 and closes for subscription on June 10, 2021. Last date for On Market Renunciation of Rights Entitlement will be June 7, 2021.

The Outstanding Equity Shares prior to the Rights Issue is 66,34,95,495 Equity shares of Re. 1/- each and will increased to 92,88,93,693 Equity shares of Re. 1/- each post the issue assuming full subscription.

Shares of Vikas Lifecare Limited was last trading in BSE at Rs. 3.42 as compared to the previous close of Rs. 3.60. The total number of shares traded during the day was 16,75,383 and the deliverable quantity was 11,63,864 shares.

The stock hit an intraday high of Rs. 3.61 and intraday low of Rs. 3.42.

Source : Equity Bulls

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