Mauritius-based Albula Investment Fund Ltd has picked up stake in Vikas Multicorp Ltd. As per bulk deal data available on NSE, Albula Investment Fund Ltd has picked up 40 Lakh shares at an average price of Rs 7.65 on 4th November, 2020 and 35 Lakh shares at an average price of Rs 7.30 on 3rd November, 2020.
BSE and NSE listed Specialty chemicals firm Vikas Multicorp Ltd had earlier announced that it had constituted an Advisory Board consisting of eminent personalities with the purpose of providing guidance and act as a sounding board to the senior leadership team in the company including the Board of Directors. The nature of the board is non-statutory status and members will be invited to join the Advisory board based on past credentials.
Enters FMCG Segment with Rs. 100 Cr Investment
VML had recently announced that it will enter the food protection and personal hygiene segment of the FMCG industry with an investment of approximately Rs 100 crore in two years. The company has ventured into the 'Food protection and Personal Hygiene' segment of FMCG Industry with acquisition of prestigious Brands for Aluminium Foil and Tissues 'HOMEFOIL', 'CHAPATIWRAP', 'CLEANWRAP' & 'MISTIQUE'. VML intends to acquire further businesses as well as expand its footprint all over India.
Vikas Multicorp said the demand of aluminum foil and tissue paper products in India has been growing at a fast pace and is expected to continue to grow in view of present per capita consumption is quite low.
These brands have evolved over a period of three decades and are well established names in the domestic market, enjoying very visible and prominent presence in the market at more than 10 Lac retail counters across the nation besides being sold to prestigious institutional customers like Taj Group of Hotels, Meridian, Maurya Sheraton, Oberoi, Inter-continental, Hyatt, Marriott and all other big hotels, all the big Hospitals like Apollo, Escorts, Max, Gangaram, Vimhans, Fortis, Moolchand etc., Airlines like Air India, Jet Airways, Jet light, Alliance Air etc., Canteen Stores Department (CSD), and Railways and Airport Authority of India.
In addition, these brands enjoy significant presence in all big retail chains and online platforms. These brands also have recognition in International markets, especially in UK, Middle East and European countries. The Company is planning to foray in to complete solutions for Food Protection, and Packaging Personal Hygiene needs of Indian households at one stop shop.
This story is provided by NewsVoir. will not be responsible in any way for the content of this article. (/NewsVoir)
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor