Share Market News: Vikas Lifecare Approves Allotment of 24.25 Crore Warrants | View the most important details here
The subsidiary of Vikas Lifecare has secured an order for the most advanced ultrasonic gas meters.
Share market news: Vikas Lifecare, which deals in high-end specialty chemicals, has said its board has announced an allotment of Rs 24.25 crore worth of fully convertible warrants at an issue price of Rs 4 per warrant.
“Allotment of 24,25,00,000 (Twenty Four Crores Twenty Five Lakhs) fully convertible warrants (‘Warrants’), with a right exercisable by the warrant holder to subscribe to one equity share per warrant, to ‘Promoter’ on preferential basis against an issue price of Rs. 4/- (Rs. four only) per warrant, upon receipt of subscription amount of 25% of the issue price,” Vikas Lifecare said in a stock exchange filing.
Earlier on Friday, shares of Vikas Lifecare Limited closed the session at Rs 6.15. The company’s shares, which have a market capitalization of Rs 993 crore, have a 52-week high of Rs 8 and a 52-week low of Rs 2.70.
Meanwhile, Vikas Lifecare subsidiary has secured an order for the most advanced ultrasonic gas meters. According to the company, ultrasonic meters are being replaced worldwide to reduce commercial gas losses (LUAG).
“These meters are a super-special product based on world-renowned ultrasonic technology that has been tried and tested in the most testing conditions and critical locations worldwide,” the company said in an exchange filing.
Earlier, the recycling player’s subsidiary had bagged an order worth Rs 495 million from Gujarat Gas Limited, India’s largest city gas distribution company (CGD). According to an exchange filing, Genesis Gas Solutions has received orders to supply 40,000 gas meters from Gujarat Gas.
Disclaimer: This article is for informational purposes only and is not investment advice