Widening Horizons     

Published: October 31, 2024
Updated: October 31, 2024

Evexia Lifecare Ltd.

Executes term sheet to acquire 51% stake in Vittal’s MediCare

Evexia Lifecare Ltd. (BSE: 524444), engaged in the trading of pharmaceuticals, chemicals, manufacturing of intermediates, agricultural produce and various other products of consumer goods, has announced that it has executed Term sheet with Vittal’s MediCare Private Limited to acquire 51 % stake in Vittal’s MediCare Private Limited, for INR 35 crores. Vittal’s MediCare Private Limited will become a Subsidiary Company of Evexia Lifecare Limited after completion of entire transaction as described in the Term Sheet.

Vittal’s MediCare is engaged in the business of Diagnostic Centers and hence it signifies a strategic alignment aimed at capitalizing on synergistic opportunities for business advancement.

under the applicable laws of the UAE and has to transfer all of it’s holding in all the LLCs which are part of this transaction through swap, thereby becoming the shareholders / partners of the SPV holding 100% of its capital.

Upon the Capital Contribution, Evexia Lifecare Africa Limited shall hold 51% share in the capital of the SPV and the existing Partners will hold 49% share in the SPV. The subsidiary Company i.e. Evexia Lifecare Africa Limited in tends to bring in an aggregate amount of INR. 190 Cr as an investment and capital contribution to the SPV subject to completion of entire transaction.

Recently, the company has approved the issuance of up to 24 Crore Convertible Warrants, of the company, at a price of Rs. 3.60/- per Warrant aggregating to up to Rs. 86.40 Cr by way of preferential issue, subject to necessary approval of the members of the Company and other regulatory authorities, as maybe applicable

Evexia Lifecare Ltd. (BSE: 524444) is engaged in the trading of pharmaceuticals, chemicals, manufacturing of intermediates, agricultural produce and various other products of consumer goods. It is mainly engaged in the trading of pharma chemicals. The Company in trading of various petrochemical downstream products, such as special oils, special chemicals, petroleum sulphates and solvents for industrial applications, such as rubber, leather, ink and paint industries. Its products include pharma intermediates, plastic granule, chemicals, and gold and diamond. The Company focuses to expand its line of business in Web development, software development for overseas clients, trading in gold and entertainment segment.

The company is committed to delivering high-quality products and services to its customers. It aims to achieve customer satisfaction by providing cost-effective and timely solutions. The company has a team of experienced professionals who ensure that the products meet the highest standards of quality.

Evexia Lifecare Ltd is a company that values innovation and keeps up with the latest technologies and trends in the industry. It strives to provide its customers with the best solutions and services that meet their evolving needs. The company has a long-term vision of expanding its business globally and establishing itself as a leader in the industry.