Vikas Lifecare Limited announced a private placement to issue 100,000,000 Compulsorily Convertible Warrants at an issue price of INR 4 per warrant (INR 1 per warrant, INR 3 premium) at for the gross proceeds of INR 100,000,000 on August 31, 2023. The transaction will include participation from individual investor Vikas Garg for 100,000,000 warrants. The transaction has been approved by the general shareholders and is also subject to shareholders' and other statutory/regulatory approvals.

The transaction is subject to book closure for the purpose of 28th Annual General Meeting of the Company from September 24, 2023 to September 30, 2023 and the meeting will be held on September 30, 2023.