LTS Investment Fund has picked up a stake in New Delhi based FMCG major Vikas Multicorp. As per bulk deal data available on NSE, LTS Investment Fund has picked up 34 Lakh shares at an average price of Rs. 7.65
The company had recently announced that it will enter the food protection and personal hygiene segment of the FMCG industry with an investment of approximately Rs. 100 crore in two years.
The company has ventured into the ‘Food protection and Personal Hygiene’ segment of FMCG Industry with the acquisition of prestigious Brands for Aluminium Foil and Tissues Homefoil, Chapatiwrap, Cleanwrap and Mistique. VML intends to acquire further businesses as well as expand its footprint all over India.
Vikas Multicorp said the demand for aluminum foil and tissue paper products in India has been growing at a fast pace and is expected to continue to grow in view of present per capita consumption is quite low.