Vikas Lifecare Limited has announced a recent significant development in regard to diversification of its business interests. The company has evaluated and decided to submit an expression of interest to Edelweiss Asset Reconstruction Company Limited for acquisition of a company owning the property in a 5 Star Hotel located in Delhi NCR a prime hospitality business.
The proposed acquisition involves an investment of about Rs120 crore, which shall be funded from internal accruals and equity proceeds, said company in a regulatory filing.
On Monday at around 12:37 PM, Vikas Lifecare was trading at Rs5.92 per share higher by 4.96% on the BSE.
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