Recycling major approves conversion of 3.45 crore warrants

Recycling firm Vikas Lifecare has approved the conversion of 3.45 crore warrants into equity shares upon receipt of the balance amount aggregating to Rs 10.30 crore. The shares were held by the promoter. 

"Consequent to today's conversation of warrants/allotment of equity shares, the issued and paid-up capital of the company stands increased to Rs 185,76,68,560 consisting of 185,76,68,560 equity shares," the company said in an exchange filing.

The new equity shares so allotted, shall rank pari-passu with the existing equity shares of the company.

Earlier, Vikas Lifecare's subsidiary won an order for the most advanced state-of-the-art Ultrasonic Gas Meters. According to the company, Ultrasonic meters are being replaced worldwide to bring down commercial gas losses (LUAG).

"These meters are a super specialty product, based on the world-renowned Ultrasonic Technology which has been tried and approved in the most testing conditions and critical sites worldwide," the company said in an exchange filing.