Saturday, July 13, 2024

Vikas Lifecare’s recent acquisition Genesis Gas Solutions Pvt.Ltd. bags orders from Aavantika Gas Ltd., a Joint Venture of GAIL & HPCL

BSE and NSE listed Vikas Lifecare Ltd. (BSE:542655, NSE:VIKASLIFE) has announced that its recent acquisition Genesis Gas Solutions received order stotaling~INR55Million (i)forsupplying40,800NaturalGasMeters,and (ii) for laying Pipeline and commissioning of Meter (Last Mile Connectivity) from Aavantika Gas Limited, a Joint Venture of GAIL (India) Limited & Hindustan Petroleum Corporation Limited under the Ministry of Petroleum and Natural Gas, Government of India.

Vikas Lifecare Limited is in the process of acquiring 75% equity of Genesis Gas Solutions Private Limited, a company engaged in the business of developing “Smart Products” including Smart Gas Meters & Power Distribution solutions for the infrastructure segment. Post completion of the acquisition process Genesis Gas Solutions Private Limited shall become subsidiary of the company and start contributing significantly in consolidated revenue and profits.

Genesis was Co-Founded in 2017 by a team of techno preneur’s and finance professionals has been specifically focussed on the evolving City Gas Distribution sector. Genesis pioneers in Smart Gas and Water Metering in India and commands about 20% of the Domestic Gas Metering share in India.

Vikas Lifecare Ltd. (VLL) is an ISO 9001:2015 certified company, engaged intruding and manufacturing of polymer, rubber compounds and additives for plastics, synthetic &natural rubber. The company is primarily engaged in the various business segments i.e. Polymer & Rubber Commodity (bulk consumption) Compounds and Master-Batches (Manufacturing up-cycled compounds from industrial and post-consumer waste materials like EVA, PVC, PP, PE etc.), contributing to the Environment Protection initiatives from the Government of India and fulfilling the man dated EPR obligations for the conglomerates using hundreds of thousands of tonnes of plastic products and packaging materials.

VLL is also a Del-Credere agent of ONGC (Oil and Natural Gas Corporation Ltd.) Petro
Additions Limited, a public sector undertaking producing a wide variety of base polymers and commodity plastic raw materials. As along-term business strategy, the company has most recently diversified it’s business interests beyond raw materials (B2B businesses) and forayed into the B2C segment with a host of consumer products
including FMCG, Agro, and Infrastructure Products; paving way for an aggressive business growth with intricately planned and selected product portfolios via acquisitions, joint ventures and tie-ups.

VLL Intends stablishing/acquiring businesses in these segments there by expanding its footprint in the country and beyond.

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