Vikas Lifecare Ltd announces acquisition of substantial stake in 'SKY 2.0' Club, Dubai for ~USD 79 Million

Vikas Lifecare Limited makes the largest investment till date, in acquisition of major stakes in the renowned "SKY2.0 Club", Dubai. The acquisition is a share swap deal signed between Vikas Lifecare Limited and the holding company M/s Blue Sky Event Hall FZ-LLC, Dubai, for acquisition of 60% stakes in the SKY 2.0 Club business and all future business ventures in the relevant business segment at an enterprise valuation of about USD 130 Million. The acquisition process shall be completed within this Fiscal Year.

The SKY 2.0 is "The Largest Nightclub in the Middle East and Asia", a striking standalone, Open-Air Venue anchored in the heart of the upscale "Dubai Design District". The SKY 2.0 is unlike any other venue; is an experiential trailblazer that promises memorable evenings literally under the Skies, offering world-class entertainment, ground-breaking technology and exemplary service are all guaranteed. Innovative and experiential, SKY 2.0 offers an interactive experience by employing modern technology in the venue. Bendable screens, Grand Lighting Design, and a Vivacious & Jaunty Sound System wrap the walls of the SphereShaped Venue. Enigmatic and designed to perfection, the architectural marvel of SKY 2.0emerges from a seamless fusion of visionary nightlife experts and international architects, resulting in a masterpiece that captivates the senses. Sky 2.0 Club has hosted hundreds of Star-Studded Events while The King of Indian Film Industry "Shah Rukh Khan", The Indigenous Rap Star "Badshah": The International Rap Sensation "Little Baby"; The American Rap King "50 Cent"; The Moroccan Star "French Montana" and many more.

SKY 2.0 recorded about USD 22.10 Million of gross revenues accrued from the business during 2023, with about 38.80 % Net Profit Margin and about 36 % Growth in revenues registered while comparing with the Preceding Year.

The nightclub business on the global level aggregates about USD 31.46 Billion while accelerating at a CAGR of 8.07%, whereas on one hand the home turf for VLL, India with 25% of the Population aged below 25 Years surfing on the surge in disposable income of Indians, growing at an exorbitant 17.4%, and the shift towards modern cultural paradigm, offers a Huge, Virgin and Niche Market, which is merely a dot in the numbers put up by the global revenues generated from the Clubbing Businesses.

Shares of Vikas Lifecare Limited was last trading in BSE at Rs. 6.70 as compared to the previous close of Rs. 6.76. The total number of shares traded during the day was 11940715 in over 11263 trades.

The stock hit an intraday high of Rs. 6.92 and intraday low of 6.66. The net turnover during the day was Rs. 80909678.00.

Source : Equity Bulls

Keywords

VikasLifecare INE161L01027 Investment Dubai