Vikas Lifecare Ltd approves allotment of 12,50,00,000 Equity Shares to QIBs

The Fund Raising Committee of the Board of Directors of Vikas Lifecare Limited (the "Committee"), at its meeting held today i.e. June 2, 2022 (which commenced at 8:30 P.M. and concluded at 9:00 P.M.), has approved the closure of the Issue today (i.e. June 2, 2022) post receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers in accordance with the terms of the Issue.

The committee determined and approved, in accordance with the SEBI ICDR Regulations, the issue price at ₹ 4.00 per Equity Share (including a premium of ₹ 3.00 per Equity Share), which is at a discount of ₹ 0.19 per Equity Share i.e. ~4.52% to the floor price of ₹ 4.20 per Equity Share (determined according to the formula prescribed under Regulation 176 of the SEBI ICDR Regulations and intimated in earlier communications), for the Equity Shares to be allotted to the eligible qualified institutional buyers in the present tranche.

The committee approved and finalized the Confirmation of Allocation Note ("CAN") to be sent to eligible qualified institutional buyers, intimating them of the allocation of Equity Shares pursuant to the Issue and approved and adopted the placement document dated June 2, 2022.

The committee also approved the allotment of 12,50,00,000 Equity Shares at the issue price to the eligible qualified institutional buyers in accordance with the terms of the issue.

Shares of Vikas Multicorp Limited was last trading in BSE at Rs. 5.46 as compared to the previous close of Rs. 5.20. The total number of shares traded during the day was 1332799 in over 566 trades.

The stock hit an intraday high of Rs. 5.46 and intraday low of 5.46. The net turnover during the day was Rs. 7277082.00.

Source : Equity Bulls

Keywords

VikasLifecare INE161L01027 QIP QIB FundRaising