In exchange for a cash payment of 110 million Indian rupees, Vikas Lifecare Limited has bought a 51% share in M/s Shashi Beriwal & Company Pvt Ltd. With a particular emphasis on agro products and FMCG, Vikas Lifecare has been working to establish a solid foothold in the consumer products business segment. The company’s current acquisition will support its ambitions to establish and grow a retail brand of its own.
The Company started and acquired numerous facilities over the past 18 months to process a chosen range of agricultural products, including premium agricultural products like cashew nuts, almonds, and premium rice. The Company then moved to start processing chosen spices to the offer palette with cloves and black pepper.
The company is constantly looking for strategic alliances to expand its product offering to include Organic Agro Products. Recently, the company invested INR 150 million to buy a 30% stake in “Ardh Sainik Canteen,” a chain of subsidized stores that caters to the families of serving and retired military personnel. This investment paves the way for the company to integrate the products from its existing facilities and sell them directly to mass consumers through these retail stores.
Beverages are the newest addition to the product line. The company will be on the lookout for ways to increase its product offerings while pacing the process to establish itself in the retail market for consumer goods through ongoing investments and acquisitions.
Shares of Vikas Lifecare Limited were last trading at Rs. 4.92 on the BSE, down from Rs. 4.94 at the previous close. A total of 1267679 shares were traded throughout the day in more than 825 deals.
The stock’s intraday high and low were 4.98 and 4.86 respectively. The day’s net revenue was Rs. 6238563.00.
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