Vikas Lifecare to Raise Rs 200 Crore for Expansion

Vikas Lifecare is set to raise Rs 200 crore to support its growth strategies. The funds will be acquired through several means, including equity shares and Foreign Currency Convertible Bonds. This initiative aims to bolster the company's long-term resources and explore growth opportunities in recycling operations.

In a significant financial move, Vikas Lifecare announced on Friday it is set to raise Rs 200 crore, a decision made to harness emerging growth opportunities in its recycling business.

The company's board has approved this strategic fundraising, which will occur in one or more tranches, involving a combination of equity shares, FCCBs, or potentially other financial instruments. The company aims to enhance its long-term resources and explore both organic and inorganic growth avenues.

Vikas Lifecare is known for recycling various waste materials to produce industrial-use pallets and interlocking tiles. As the company sets sights on expansion, the funding strategy will require necessary regulatory approvals before execution.

(With inputs from agencies.)