Bulk Deal: Vikasa India EIF Fund-Incube Global Opportunities picks up stake in Kshitij Polyline

Mauritius-based Vikasa India EIF Fund - Incube Global Opportunities has picked up stake in  Kshitij Polyline Ltd, as per NSE data. As per the filing, 6 lakh shares at a price  of Rs. 41.43 per share were bought via bulk deal. The company is looking to increase its revenue by entering new product ranges and taking advantage of technological advancement, an official statement said.

Meanwhile, the company's board has considered an approval to enter e-commerce space and develop its brand from stationary products and ancillary products, the statement added. The company intends to develop its own website, selling on other e-commerce platforms, opening stores for speedy delivery, tie-up with other vendors and offline & online marketing to increase their revenue by use of new technology.

"These efforts will incur an initial cost of Rs 10 crore to the company. However, the actual amount may vary. It is likely to finance this costing by internal reserves and/or by debt from financial institutions," the statement added.

The company board informed that it also approved the agenda of increasing its product range.