Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

LTS Investment Fund Ltd picks up stake in Vikas Multicorp Ltd

LTS Investment Fund Ltd picks up stake in Vikas Multicorp Ltd

Photo Credit :

Mumbai (Maharashtra) [India], October 29 (ANI/NewsVoir): LTS Investment Fund Ltd. has picked up stake in Vikas Multicorp Ltd. As per bulk deal data available on NSE, LTS Investment Fund Ltd has picked up 34 Lakh shares at an average price of Rs 7.65.
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 the FMCG Industry with the 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 a 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. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Tags assigned to this article:
LTS Investment Fund Vikas Multicorp Ltd fmcg

ANI

ANI

More From The Author >>