Vikas Lifecare acquired 75% stake in Genesis Gas Solutions Private Limited

Vikas Lifecare Limited have entered into definite agreement with the existing promoters/shareholders for acquiring 75% equity of Genesis Gas Solutions Private Limited (the 'Genesis'), a company engaged in the business developing "Smart Products" including Smart Gas Meters & Power Distribution solutions for the ever-expanding infrastructure in India, in a cash deal amounting Rs. 250 million, payable in stages.

Post achieving the long-desired debt-free status this year, Vikas Lifecare has actively exploring and working towards expanding its businesses footprints in emerging infrastructure products segment along with other business strategies.

Company is already in advance stage of commissioning manufacturing plant of pipe lines for gas distribution, commercial production expected within the current financial year.

Shares of Vikas Lifecare Limited was last trading in BSE at Rs. 6.56 as compared to the previous close of Rs. 6.25. The total number of shares traded during the day was 3594058 in over 1765 trades.

The stock hit an intraday high of Rs. 6.56 and intraday low of 6.56. The net turnover during the day was Rs. 23577020.00.

Source : Equity Bulls

Keywords

VikasLifecare INE161L01027 Acquisition GenesisGasSolutions