The company had announced the opening of the issue (Qualified Institutions Placement) on January 1, 2024.
Stock Market News: Shares of Vikas Lifecare Limited shares saw a rise of 4.58 per cent on Thursday i.e. January 11. The counter opened at Rs 6.80 and went on to hit an intraday high of Rs 6.85. The rise in stock price came after the Board granted 10,41,65,000 Equity Shares to institutional buyers who met the eligibility requirements.
The company had announced the opening of the issue (Qualified Institutions Placement) on January 1, 2024.
The funds raising committee of the company, at its meeting held on January 10, 2024, has approved the closure of the issue made post receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers in accordance with the terms of the issue.
The Board also determined and approved the issue price at Rs 4.80 per equity share (including a premium of Rs 3.80 per equity share), floor price of Rs 5.02 per equity share as well as approved and finalized the Confirmation of Allocation Note (CA) to be sent to eligible qualified institutional buyers.
According to the exchange filing, the board has also approved the allotment of 10,41,65,000 equity shares at the issue price to the eligible qualified institutional buyers in accordance with the terms of the issue; Coeus Global Opportunities Fund, AG Dynamic Funds Limited and Nakshatra Stressed Assets Fund are the list of FPI allottees who participated in equity shares offered in the present tranche/Issue.
Disclaimer: The article is for informational purposes only and not investment advice.