Market News: Vikas Lifecare acquires 33.26 percent stake in IITL | View the most important details here
A company named Vikas Life Care LLC will be incorporated in the UAE with an authorized share capital of AED 10 lakh.
Share market news: Shares of Vikas Lifecare were trading at a slightly weak level of Rs 7.30 on Thursday in a bearish stock market. Vikas Lifecare Limited is a company with a market capitalization of Rs 1130 crore and its shares have a 52-week high of Rs 8 and a 52-week low of Rs 2.5. From its 52-week low, shares of Vikas Lifecare Limited have given investors a whopping 200 percent return, making them rich.
Vikas Lifecare Limited has informed the stock market that its board of directors met on February 8, during which the company entered into a share purchase agreement with Vikas Garg and Advik Capital Limited to acquire a company. Vikas Lifecare Limited is set to acquire 75 lakh shares or 33.26% stake in Industrial Investment Trust Limited.
Vikas Lifecare Limited has entered into a share purchase agreement to acquire 33.26% stake in Industrial Investment Trust Limited (IITL). IITL holds 71.74% stake in IITL Projects Limited. Vikas Lifecare Limited has said that it will make an open offer in accordance with SEBI regulations to acquire stake in IITL or IITL Projects Limited.
Industrial Investment Trust Limited has an authorized share capital of Rs 35 crore and 3 crore shares of Rs 10 face value, while there are 50 lakh preference shares. Vikas Life Care Limited has also recently decided to change the management of the company. The company has decided to transfer the management of the company to a new team, in line with the company management structure.
A company named Vikas Life Care LLC will be incorporated in the UAE with an authorized share capital of AED 10 lakh. 1000 shares of the company will be issued at AED 1000 per share.
Disclaimer: The article is for information purposes only and not for investment advice.