Vikas Lifecare to bid for 5 Star Hotel located in Delhi NCR

Vikas Lifecare Limited has evaluated and decided to submit an expression of interest to Edelweiss Asset Reconstruction Company Limited for acquisition of a company owning the property in a 5 Star Hotel located in Delhi NCR a prime hospitality business.

The proposed acquisition involves an investment of about Rs. 1200 million, which shall be funded from internal accruals and equity proceeds.

Shares of Vikas Lifecare Limited was last trading in BSE at Rs. 5.38 as compared to the previous close of Rs. 5.13. The total number of shares traded during the day was 1151591 in over 1068 trades.

The stock hit an intraday high of Rs. 5.38 and intraday low of 5.26. The net turnover during the day was Rs. 6189747.00.

Source : Equity Bulls

Keywords

VikasLifecare INE161L01027 EOI EdelweissARC 5StarHotel DelhiNCR HospitalityBusiness