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Vikas Garg, Promoter and Managing Director of Vikas Ecotech , has sold 1.14 crore shares at ₹14.01 a share for ₹15.94 crore on November 16. The sale was to raise funds for an upcoming inorganic growth opportunity, it said in a statement to the exchanges. The funds would be used in the company via zero interest unsecured loan. Vikas Ecotech is currently exploring a strategic inorganic growth opportunity for production of 2-ethylhexyl thioglycolate and other asset purchases, which would significantly reduce the lead time of its primary product, Organotins. The share sale by the promoter has been undertaken to provide interim funding to explore the opportunity, it added. Shares of Vikas Ecotech jumped 4.86 per cent at ₹12.95 on the NSE.
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