Vikas Lifecare has acquired 22.04% of total outstanding shares though
open/off-market deal(s) from public shareholders of Advik Laboratories ('Advik'), a BSE listed pharmaceuticals company having its Registered Office and Manufacturing Unit in Delhi NCR.
Advik management achieved an arrangement with its bankers for settlement of bank dues and pursuant to this arrangement Vikas Lifecare has already paid Rs. 2.5 crore to the Advik bankers till date and the remaining amount shall also be paid within the current month i.e. July 2021 itself, making Advik a Debt Free business.
Chandan Kumar, CFO of the Company added We will be infusing further Rs. 2 crore in Advik to kickstart the operations and will subsequently line up more funds towards the working capital as the operations gain momentum.
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