Vikas Ecotech’s board has provided it’s approval for fund raising through preferential issue of shares and aims to allot 2.56 crore shares at Rs 17 per share.

Vikas Garg, the MD has said that the promoters are not participating in the preferential issue and the stake of promoters will reduce to 42 percent from 43.5 percent post the allotment.

The company has been planning to raise Rs 40 crore from this issue and the amount that has been raised will be used for further capital expenditure.

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