Vikas Lifecare Ltd., a leader in trading and manufacturing of polymer, rubber compounds and additives for plastics, synthetic & natural rubber, has announced that the company will
hold its board meeting on August 31, 2023,to issue securities, convertible instruments on preferential basis to Mr. Vikas Garg, promoter of the Company, who signified his intent in writing to subscribe additional equity/convertible instrument/warrants, or any other combination thereof, in cash, at premium, for an amount not exceeding Rs. 400 Million.
Recently Vikas Lifecare Limited announced that it was moving further ahead with the objective of broad-basing the product portfolio, and diversifying into futuristic and unique product lines, new edge businesses, complimenting and supplementing the existing business lines of the Company, it acquired 98% equity of MSR Apparels Private Limited (a company engaged in manufacturing of all types of textile garments and clothing accessories) from its existing promoters and shareholders in an all-cash deal for a
total consideration of Rs 125 Millions, thus making it a subsidiary company.
Through this acquisition, Vikas Lifecare, which has recently diversified its business interests beyond raw materials, a B2B business, and forayed into the B2C segment with a host of consumer products including FMCG, Agro, and Infrastructure Products; is entering into another essential aspect of the life, Textile, Garments and Clothing.
Vikas Lifecare Ltd. (VLL) is an ISO 9001:2015 certified company, engaged in trading and manufacturing of polymer, rubber compounds and additives for plastics, synthetic & natural rubber. The company is conventionally 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 mandated EPR obligations for the conglomerates consuming hundreds of thousands of tons 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 a long-term business strategy, the company has most recently diversified its 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 establishing / acquiring businesses in these segments thereby expanding its footprint in the country and beyond.
VLL’s subsidiary M/s Genesis Gas Solutions Pvt. Ltd. is engaged in the business of Smart Gas Meters being supplied to all the major Gas Distribution Companies for domestic and commercial consumers. Genesis pioneers in Smart Gas and Water Metering and commands about 20% of the Domestic Gas Metering business share in India.