Categories: Business

Recycling firm Vikas Lifecare announces closure of QIP issue

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Recycling participant Vikas Lifecare has introduced the closure of its QIP (Certified Establishments Placement) by allotting 7.40 crore fairness shares to eligible certified institutional patrons.

Amongst those that have been allotted shares are AG Dynamics Funds Restricted, Radiant World Fund and others.

The board permitted the ground value for the difficulty at Rs 7.08 per fairness share.

“…permitted, in accordance with the SEBI ICDR Laws, the difficulty value at ₹ 6.75 per Fairness Share (together with a premium of ₹ 5.75 per Fairness Share), flooring value of ₹ 7.08 per Fairness Share (decided in keeping with the formulation prescribed beneath Regulation 176 of the SEBI ICDR Laws and intimated in earlier communications), for the Fairness Shares to be allotted to the eligible certified institutional patrons within the current tranche,” the corporate stated in an change submitting.

Additionally Learn: NMDC iron ore output grows 37% in August; gross sales up 25%

Earlier, the recycling participant’s subsidiary Genesis Gasoline Options bagged an order price Rs 495 million from Gujarat Gasoline Restricted, India’s largest metropolis gasoline distribution (CGD) firm.

In response to an change submitting, Genesis Gasoline Options has been awarded orders to produce 40,000 gasoline meters from Gujarat Gasoline.

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Amirul

CEO OF THTBITS.com, sharing my insights with people who have the same thoughts gave me the opportunity to express what I believe in and make changes in the world.