Vikas Lifecare Limited Approves Fund Raising, Increases Authorized Capital
On April 11, 2026, the Board of Directors of Vikas Lifecare Limited considered and approved several key corporate actions, including a proposal for raising funds, increasing the authorized share capital, and altering the Articles of Association.The Board approved a fund raising not exceeding Rs. 200 Crores. This capital raise is proposed to occur in one or more tranches through the issuance of warrants and/or equity shares on a preferential basis. The Board authorized the 'Fund Raising Committee' to take further actions, which include finalizing the list of proposed allottees, determining the number of securities to be issued, and setting the issue price. The issue price will be subject to the condition that it is not less than the price determined according to the applicable SEBI pricing formula.
Furthermore, to accommodate the increased issued capital, the company approved an increase in its Authorized Share Capital to Rs. 300 Crores. This increase will consist of an equal number of equity shares, each having a face value of Re.1/-. Concurrently, an amendment to the Capital Clause of the Memorandum of Association of the Company is required.
The Board also approved an alteration in the Articles of Association. This change involves inserting a new clause, 'Further Issue of Capital,' to align the company’s internal rules with the proposed fund raising and further issue plans.
In addition to these approvals, the Board approved the draft notice required for the proposed changes and authorized the necessary procedures, including the availing of e-voting facilities and the appointment of a scrutinizer for the postal ballot.
The meeting of the Board of Directors commenced at 11:00 A.M. and concluded at 12:10 P.M.
A detailed overview of the proposed alteration in the Articles of Association is provided below.
| Particulars | Details |
|---|---|
| Alteration of Articles of Association (AOA) of the Company | The following new clauses shall be added in Articles of Association of the company: Further issue of capital i. Where at any time Company having Share Capital proposes to increase its subscribed capital by the issue of further Shares, such shares shall be offered: a. to persons who, at the date of the offer, are holders of equity shares of the company in proportion, as nearly as circumstances admit, to the paid up share capital on those shares by sending a letter of offer subject to the conditions specified in the relevant provisions of Section 62 of the Act. b. to employees under a scheme of employees stock option, subject to special resolution passed by company and subject to such other conditions as may be prescribed under the relevant rules of Section 62. c. to any persons, if it is authorized by a special resolution, whether or not those persons include the persons referred to in clause (a) or clause (b), either for cash or for a consideration other than cash, subject to compliance with section 42 and 62 of the Act and rules framed thereunder. ii. The notice shall be dispatched through registered post or speed post or through electronic mode to all the existing shareholders at least three days before the opening of the issue. iii. Nothing in this Article shall apply to the increase of the subscribed capital of company caused by the exercise of an option as a term attached to the debentures issued or loan raised by the company to convert such debentures or loans into shares in the company: Provided that the terms of issue of such debentures or loan containing such an option have been approved, before the issue of such debentures or the raising of loan, by a special resolution passed by the company in general meeting. |
VIKASLIFE Stock Price Movement
On Friday, Vikas Lifecare Limited shares edged higher, closing at ₹1.64, marking a 2.50% gain for the day. The stock settled amidst buying interest, with total traded volume reaching 3.98 million shares.Source:
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