Vikas Lifecare's Fund-Raising Committee has approved the preferential issue of up to 61.90 crore fully convertible warrants.

These warrants will be issued at Rs 1.60 each, aggregating up to Rs 99.05 crore.

The proposed allottees include members from the promoter/promoter group and public categories.

Each warrant can be converted into one equity share within 18 months.

This fund-raise, previously approved by the Board for up to Rs 200 crore, is subject to shareholder approval and is intended to strengthen the company's financial position.