BSE (560961)& NSE (VIKASECO) listed Vikas Ecotech Ltd an emerging player in the global arena of the high end specialty chemicals players, offering eco-friendly and technologically superior products to the world,has announced an attractive rights issue at an Issue Price of Rs. 1.60 per share per share, opening on December 7, 2021 and will close on December 21, 2021.Last date for acquiring rights entitlement is
December 15, 2021.
Meanwhile Vikas Ecotech has informed exchanges that it has been diversifying to newer markets with innovative products in order to broad base it’s business interests, augmenting customer profile, and have added various raw materials, chemistries, end products to the offering in last couple of years.
Infra products update: To support Company’s ‘Infra Products’ trading business and as a measure of backward integration, the Company has commissioned a Steel Pipe Fittings plant, which after trial production, went into commercial production in this week, almost 2 months ahead of its schedule.
With increasing economic activities and governments thrust on infrastructure development, there is a huge demand of fittings by all major steel tube manufacturers like APL Apollo, Jindal, Hi-tech, Swastik, Vishal Pipes etc. and they prefer sourcing from the vendors who has inhouse steel tube fitting manufacturing facilities.
Considering it as a long-term opportunity, which not only enhance company’s revenues, product basket, profitability but also mitigate concentration risk, the company has successfully bagged commercial scale orders. Since production of fittings and their supplies are much ahead of their scheduled targets, Vikas is expecting a good revenue contribution of this newly added business segment in the current financial year.
Empanelment with HOFED;The company has been most recently empaneled as an approved vendor with the U.P. State Horticultural Co-Operative Marketing Federation (HOFED) a Uttar Pradesh Govt. Enterprise. Its first of its kind of empanelment for Vikas Ecotech that too along-side other industry conglomerates like Supreme Industries, Advance Biocare, Stellar Polyplast etc.
Enhancements in Intellectual Property: Successful registration of patent for use of Nano CaCO3 in Plastic & Rubber Compounds The Company has been keeping focused on its R & D activities and the team has been working on many ideas to create viable business opportunities from the scientific theories that make way for an advanced product offing and finally a fruitful business preposition. The company’s ultra modern latest R&D lab undertook research for Nano Composites and their use in the plastic and rubber industry, and based on its findings, the company has filed a patent for the use of Nano Calcium Carbonate (CaCO3) as a multi role additive and modifier across a wide spectrum of plastics, natural and synthetic rubbers applications and products which has been evaluated and duly accepted by the statutory authority.