Vikas Lifecare acquires 30% stake in Ardh Sainik Canteen for Rs15 crore

10 Oct 2022 , 11:05 AM

Vikas Lifecare Limited, as a measure of forward integration, has acquired 30% stakes in the Ardh Sainik Canteens in an all-cash deal worth Rs15 crore from its existing stakeholders in order to expand its retail footprint across India.

This will be another giant leap forward while moving at lightning speed on the path of carving a strong foothold in the consumer products retail market segment.

The Company has been targeting a niche for itself in the retail market sector, including the E-Commerce Market Place for Consumer Products, including the Agro Products business section, which has been increasing dramatically over the last 12-18 months.

Vikas Lifecare commits to expanding and broadening the commercial activities of Ardh Sainik Canteens as a strategic investment, said the company on Monday.

Ardh Sainik Canteen Stores (ASC) is a one-of-a-kind retail store concept owned by Abhyam Services Private Limited, in which Canteen (Retail) Stores are operated/opened across India by former paramilitary personnel/family members of current jawans in their hometowns.

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