Prince Pipes chairman Jayant Chheda raises stake in Vikas Ecotech

Jayant Chheda, chairman Prince Pipes & Fittings Pvt Ltd, has raised his stake in the New Delhi-based Vikas Ecotech Ltd to over 8 percent from present 1.26 percent with Rs 34 crores equity infusion. While Prince Pipes & Fittings Ltd is India’s third largest PVC pipes manufacturer, Vikas Ecotech Ltd (VEL) manufactures organotin heat stabiliser - a lead-free alternative additive used in plastics industry.

Jayant Chheda commented, "Similar to global trends, I see Indian PVC pipe manufacturing in particular and plastics industry in general shifting to lead-free stabilisers and eco-friendly chemical alternatives like organotins over the next 3-5 years. In this context, Vikas Ecotech is the only Indian company that has built in-house industrial performance ready product and solutions basket that is free of lead & other harmful chemicals and serves as an eco-friendly alternative. It will help the PVC and other plastic based industries to become environment friendly."