Small-cap stock under ₹5: Vikas Lifecare declares ₹97 crore fund raise. Share jumps 5%
Small-cap stock under ₹5: Vikas Lifecare shares have been in uptrend since last week of August 2023. After closing at ₹3.40 apiece levels on NSE on 25th August 2023, this penny stock below ₹5 has ascended to the tune of ₹5.05 apiece levels during early morning deals, delivering around 48 per cent return to its positional shareholders in near one fortnight.
In last one month, this penny stock has surged to the tune of over 60 per cent. However, there is one more piece of stock market news for shareholders of Vikas Lifecare.
The small-cap company has declared fund raise program to the tune of ₹97 crore. The fund raise would be done through issuance of fresh equity shares on preferential basis.
The preferential issue price has been fixed at ₹4 per equity share. After the outbreak of this stock market news, the small-cap stock witnessed heavy buying interest during early morning deals and hit intraday high of ₹5.05 apiece on NSE, logging more than 5 per cent appreciation on Thursday session.
Informing Indian stock market bourses about the fund raise, the small-cap company said, “In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company in their meeting held today i.e. on Wednesday, September 06, 2023 at the Registered Office of the Company situated at G-1, 34/1, East Punjabi Bagh, New Delhi -110026, inter-alia reviewed and decided to supersede the decision taken in the Board meeting held on August 31, 2023, for allotment of warrants on preferential issue to the promoters of the company only, by inclusion of certain other allottees and revise the size of preferential issue, accordingly approved the fresh issuance
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