Vikas Ecotech announced that Vikas Garg, Promoter and Managing Director of the Company, has sold 1,13,79,144 Equity Shares at a price of Rs. 14.01 amounting to Rs. 15.94 crore on 16 November 2018 to raise funds for an upcoming inorganic growth opportunity. The funds raised by the promoter will be utilised in the company via zero interest unsecured loan.
The company is currently exploring a strategic inorganic growth opportunity for production of 2-EHTG as well as other asset purchases. The strategic option being explored would significantly reduce the lead time of its primary product, 'Organotins' to the market by ensuring raw material security. The share sale by the promoter has been undertaken to provide company with interim funding to explore the said opportunity.
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