Vikas Ecotech’s Promoter and Managing Director Vikas Garg, has sold 1,13,79,144 equity shares at a price of Rs 14.01 amounting to Rs 15.94 crore on November 16, 2018 to raise funds for an upcoming inorganic growth opportunity. The funds raised by the promoter will be utilised in the company via zero interest unsecured loan.
The company is currently exploring a strategic inorganic growth opportunity for production of 2-EHTG as well as other asset purchases. The strategic option being explored would significantly reduce the lead time of its primary product, ‘Organotins’ to the market by ensuring raw material security.
Vikas Ecotech is an emerging player in the global arena of high-end specialty chemicals. An integrated, multi-specialty product solutions company, it produces a wide variety of superior quality, eco-friendly additives and rubber-plastic compounds.