Reports confirm that Nomura Singapore Limited, Forbes EMF, and AG Dynamic Funds are the companies that have taken an interest in the multi-bagger penny stocks of Vikas Lifecare. The board of directors of the company had made it clear about the allotment of 12,50,00,000 shares to the company. As per reports, the board has allotted 5,40,00,000 to Forbes EMF, another 4,40,00,000 shares to Nomura Singapore Limited and a total of 2,70,00,000 to AG Dynamic Funds.
Vikas Lifecare is a leading company in the rade of industry-standard rubber and polymer compounds. The shares have given a stellar return to all its shareholders this past year. In the last month, the company’s shares have apprised from 4.60 to 5.40 a piece delivering over 15 per cent of return to all its shareholders.
Vikas Lifecare receives investments
In the year-to-date time, the penny stock in question has given around a 25 per cent increase in returns but the last 6 months have increased the returns to about 60 per cent.
The company Vikas Lifecare informed about the development in an exchange communication citing, “In furtherance to our earlier intimations dated May 25, 2022. And June 2, 2022, with respect to the aforesaid issue. Which was opened on May 25, 2022, and closed on June 2, 2022. We are pleased to inform you that the Fund Raising Committee of the Board of Directors. Of the Company (the “Committee”), at its meeting held today i.e. June 2, 2022. (Which commenced at 8:30 P.M. And concluded at 9:00 P.M.). Has inter alia approved the issuance. And allotment of 12,50,00,000 equity shares to qualified institutional buyers. In present tranche at the issue price of ₹4.00 per equity share (including a premium of ₹3.00 per Equity Share). Aggregating to ₹50,00,00,000 (Rupees Fifty Crore only).”
The increase in the stock price predictions of Vikas lifecare and its growth was also confirmed by Anuj Gupta. Who is the Founder of the IIFL Securities has confirmed that the stock has breached its consolidation zone. As well as has been able to sustain at this level even with the market. However, not up to the mark and. Therefore confirms that the stock may give a sharp upside from short to medium term.
