Vikas Lifecare Stock Shows Strong Growth Amidst Joint Venture Announcement

Vikas Lifecare Share Price Surges with the Announcement of a Joint Venture

📈 Vikas Lifecare, a penny stock company, is experiencing a surge in business with its shares trading at INR 7.05 on Monday, January 15, 2024, marking a 9.30% increase.

📈 On Tuesday, January 16, 2024, the shares further rose by 0.74% to trade at INR 6.75.

📈 The company has announced a joint venture with Genesis Gas Solutions Private Limited, in a 49:51 ratio, as IGL Genesis Technologies Limited.

📈 With an investment of INR 108 crores, Vikas Lifecare will establish a smart meter manufacturing unit in Noida, Uttar Pradesh.

📈 This unit will have an annual production capacity of 1 million smart meters and will cover an area of 65,000 square feet.

📈 The unit is expected to be operational by July 2024.

💡 Vikas Lifecare primarily deals with recycling plastic waste for the production of pallets and interlocking tiles.

💡 Recently, AGI Dynamics Funds Limited, based in Mauritius, invested in Vikas Lifecare Limited through a Qualified Institutional Placement (QIP).

💡 Vikas Lifecare issued 10,41,65,000 equity shares to institutional investors at a price of INR 4.80 per share.

💡 The company also issued equity shares to three major foreign portfolio investors, including AGI Dynamics Fund, Nakshatra Stressed Asset Fund, and AG Global Opportunities.

💡 The floor price for the share issue was INR 5.02.

💡 This joint venture and investment have created a positive market sentiment, leading to an increase in Vikas Lifecare’s share price.

💡 Stay tuned for further updates on Vikas Lifecare’s performance in the stock market!

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