Vikas Lifecare Share Price 📈💰
In an exciting development, the board of directors of Vikas Lifecare Company has approved the establishment of a new company called Vikas Lifecare LLC in the United Arab Emirates (UAE). This move has led to a surge in the share price of Vikas Lifecare, which was trading at Rs. 7.10 on Friday, February 2, 2024, reflecting a 4.41% increase. The new company, Life Care LLC, will have an authorized share capital of 10 lakh dinars. The shares will be issued at a price of 1000 dinars per share.
Furthermore, the board of directors has also announced a change in the management leadership of the company. Suresh Menon has been appointed as a director. This decision was made during a meeting held on Wednesday, January 31, where the proposal to establish Vikas Lifecare LLC in the UAE was approved.
However, on Wednesday, during the trading session, Vikas Lifecare Company witnessed a significant decline in its share price. The share price dropped by 4.67% to trade at Rs. 7.15. The company’s total market capitalization stands at Rs. 1,020 crores. The 52-week high and low for Vikas Lifecare Limited’s shares were Rs. 8 and Rs. 2.70, respectively.
Over the past year, Vikas Lifecare Company has provided a remarkable return of 200% to its investors. The share price has seen a staggering increase of 45% from Rs. 4.25 to its current value. The shares were trading at Rs. 3.05 on August 1, 2023. Investors who purchased shares in August have witnessed a 135% increase in the value of their investments.
Vikas Lifecare Limited has informed SEBI that its board of directors has approved the fundraising through a qualified institutional placement (QIP). The company aims to raise Rs. 50 crores through the second phase of QIP. In the first phase, the company successfully raised Rs. 50 crores. The board of directors has now given approval to raise an additional Rs. 50 crores at a price of Rs. 7.08 per equity share through eligible institutional placement.
This positive update on Vikas Lifecare’s share price and its plans for expansion in the UAE has garnered attention from investors. The company’s growth potential and impressive returns have attracted investors, leading to a surge in share prices. With the establishment of Vikas Lifecare LLC and the change in management, the future looks promising for Vikas Lifecare Company and its shareholders. 🚀💼
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