Vas Lifecare to acquire 75% of existing business lines

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Vas Lifecare to acquire 75% of existing business lines

New Delhi India January 14 ANI PNN BSE and NSE listed Vikas Lifecare Limited announced on January 14 that the company has entered into a definite agreement with existing promoters for the acquisition of 75% of the company's existing business lines, including Smart Gas Meters Power Distribution solutions for the ever expanding infrastructure in India, in a cash deal of 75%. 250 million dollars are payable in stages.

Vikas Lifecare is actively exploring and working to expand its business footprint in emerging infrastructure products segment, along with other business strategies after achieving the long-desired debt-free status this year.

Commercial production is expected to be completed within the current financial year, and the company is already in the process of commissioning a manufacturing plant of pipe lines for gas distribution. Vikas Lifecare Ltd. VLL is an ISO 9001: 2015 certified company which is engaged in trading and manufacturing of polymer, rubber compounds and additives for plastics, synthetic natural rubber.

The company is primarily engaged in the various business segments i.e. Polymer Rubber Commodity bulk consumption Compounds and Master-Batches Manufacturing up-cycled compounds from industrial and post-consumer waste materials, such as EVA, PVC, PP, PE, etc. The Government of India is responsible for environmental protection initiatives and fulfilling the EPR obligations for the conglomerates, using hundreds of thousands of tonnes of plastic products and packaging materials.

VLL is a Del-Credere agent of ONGC Oil and Natural Gas Corporation Ltd. Petro Additions Limited, a public sector company that produces a wide variety of base polymers and commodity plastic raw materials.

As a long-term business strategy, the company has diversified its business interests beyond the raw materials B 2 B businesses and forayed into the B 2 C segment with a host of consumer products including FMCG, Agro, and Infrastructure Products, paving the way for aggressive business growth via acquisitions, joint ventures and tie ups. VLL intends to expand its footprint in the country and beyond by acquiring businesses in these segments.

The Company's securities are listed on both the Stock Exchanges, the BSE Scrip Code: 542655 and the NSE Scrip Code: VIKASLIFE Genesis in 2017, a team of technopreneurs and finance professionals who have an enviable history of successful start-ups that develop and offer many niche products to the defence equipment industry and the electrical utility segment. These technocrats, graduated from premier institutions like IITs, provided Genesis with niche and indigenous products in sophisticated solid-state encryption for defence applications and several successful products for power distribution companies, which are well accepted and are already being commercially applied in the field of transmission losses for the electricity distribution companies.

Since its incorporation, the Genesis focus has been on the evolving City Gas Distribution sector in India. Genesis created a variety of intellectual property including software and hardware solutions for the domestic Metering Sector as well as industrial Gas Metering Applications along with Gas Leak Detection Systems and has carved out a niche for itself by acquiring about 20% of the Domestic Gas Metering share in India.

In addition to that, Genesis pioneered in Smart Gas and Water Metering in India by bringing out India's first pre-payment system, which was indigenously developed and acquired by Indraprastha Gas Limited IGL-India's Largest Gas Company and GAIL India Limited. Genesis has also brought out its own network solution to complement its field devices, which are now recognized by companies like Honeywell and Hitachi, which are testing these in-house products for their projects worldwide.

There are few remarkable achievements to the credit of Genesis.

Genesis is the supplier of gas meters to IGL with more than 4 lakh meters of Hangzhou Beta Meter Co. Ltd., along with after sales services under exclusive supply arrangement. The Hangzhou Beta Meter Co. Ltd is considered to be the world's first gas meter manufacturer due to its advanced technological strength, modern management and high production capacity.

In the SCADA system, Genesis made a proposal for various gas companies to connect all CNG stations and make a single console for operations.

Genesis also does Smart Meter Meter Meter Interface Unit MIU and associated services used by Indraprastha Gas Ltd - JV of GAIL, BPCL and Govt of NCT of Delhi.

Genesis is partnering with Tata Communications to provide a smart metering solution provider AMR Prepaid with RF based Lora WAN technology.

Genesis Gas has developed India's first Meter Data Management MDM and Head end system for Gas utilities that run more than 150,000 smart meters in India.

Genesis clients include :

Haryana City Gas ltd, among others, is among others Haryana City Gas ltd.