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In this multibagger penny stock, Nomura, Forbes EMF buy stakes

Multibagger stock: Foreign portfolio institutions (FPIs) — Nomura Singapore Limited, Forbes EMF and AG Dynamic Funds Limited have bought stake in multibagger penny stock Vikas Lifecare. Out of of 12,50,00,000 equity shares offered by the company in its 50 crore fund raise drive, the board of directors of the company approved allotment of 5,40,00,000 shares to Forbes EMF, 4,40,00,000 shares to Nomura Singapore Ltd and 2,70,00,000 shares to AG Dynamic Funds Limited.

Vikas Lifecare informed about the development in an exchange communication citing, “In furtherance to our earlier intimations dated May 25, 2022 and June 2, 2022, with respect to the aforesaid issue, which was opened on May 25, 2022 and closed on June 2, 2022, we are pleased to inform you that the Fund Raising Committee of the Board of Directors of the Company (the “Committee”), at its meeting held today i.e. June 2, 2022 (which commenced at 8:30 P.M. and concluded at 9:00 P.M.), has inter alia approved the issuance and allotment of 12,50,00,000 Equity Shares to qualified institutional buyers in present tranche at the issue price of 4.00 per Equity Share (including a premium of 3.00 per Equity Share), aggregating to 50,00,00,000 (Rupees Fifty Crore only).”

The exchange communication went on to inform that Forbes EMF has been allotted 5,40,00,000 shares under FPI category, which is 43.20 per cent of the issue size. Nomura Singapore Ltd has been allotted 4,40,00,000 shares under FPI category, which is 35.20 per cent of the total issue size. AG Dynamic Funds Limited has been allotted 2,70,00,000 shares under FPI category, which is 21.60 per cent of the total issue size.

Vikas Lifecare share price history

Vikas Lifecare shares have given stellar return to its shareholders throughout the year. In last one month, Vikas Lifecare share price has appreciated from 4.60 t o 5.40 apiece levels, delivering over 15 per cent return to its shareholders. In year-to-date (YTD) time, this penny stock has given more than 25 per cent return to its shareholders whereas in last 6 months, it has surged over 60 per cent.

This penny stock has tuned multibagger in near one year as it has surged from 2.66 (close price on 7th May on NSE) to 5.40 apiece levels today, ascending to the tune of near 101 per cent in this period. So, Vikas Lifecare shares are one of the multibagger penny stocks produced by the Indian stock market in recent years.

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