Acquisition of Polymeric Plasticizer, Business of Vikas Ecotech Is Going To Grow Rapidly

On Monday, The shares of Vikas Ecotech Limited and they were functioning at the level of Rs 4.80. The shares of Vikas Ecotech, with a market cap of around Rs 659.47 crore, have a 52-week high of Rs 5.65 while a 52-week low of Rs 2.35.

Vikas Ecotec Limited has informed the stock market that it has acquired 100 percent stake in Polymeric Plasticizer Manufacturing Company. Vikas Ecotech Limited has told the stock market that Polymer Plastic Scissor Manufacturing Company will be merged with Vikas Organic Private Limited.

Vikas Ecotech Limited has paid Rs 27 crore for this. Vikas Ecotech Limited has bought Polymeric Plasticizer Manufacturing Company for Rs 32 crore. Along with paying the outstanding amount, Vikas Equity Limited has completed the ownership transfer of Polymeric Plasticizer Manufacturing Company.

Vikas Ecotech Limited says that purchasing the new company will significantly accelerate the functioning of Vikas Ecotech Limited and now the company will be able to supply its products to vinyl processing industries.

Vikas Ecotech company had started the loan reduction plan from August-September 2021 and till now an amount of Rs 126.2 crore has been returned to the banks. The company now has a loan of Rs 35 crore left with the banks. From its peak level, Vikas Ecotech Limited has so far returned about 78 percent of its loans to banks.

New Delhi-based Vikas Ecotech is engaged in the business of specialty polymers and specialty additives and chemicals for plastics and rubber industries, catering to a wide horizon of applications in agriculture, infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.