Published On:February 23 2024
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VeerHealth Care Announces Bold Expansion Initiative to Elevate Healthcare Solutions

VeerHealth Care Limited (BSE: 511523), renowned for its Ayurvedic, Herbal & Cosmetics healthcare and personal care products under the brand "Ayuveer", has announced an ambitious expansion strategy with a proposed investment of ₹33 Crores. This comprehensive investment plan encompasses land acquisition, construction projects, procurement of machinery, and infrastructural development.

To fuel this expansion endeavor, VeerHealth Care will secure ₹8 Crores through bank borrowings. Moreover, the Board of Directors has greenlit the issuance of new equity shares to enhance financial resources.

Under this initiative, VeerHealth Care plans to issue 99,99,238 new equity shares priced at ₹25 per share, including a premium of ₹15 per share. The right issue will be extended in the ratio of 1:2, granting existing shareholders, including promoters, one equity share for every two shares held.

The strategic move not only reinforces VeerHealth Care Limited's financial standing but also highlights its dedication to maximizing shareholder value. The expansion venture signifies a pivotal milestone in the company's quest for excellence in healthcare provision.

Bhavin Shah, the Managing Director of VeerHealth Care Limited, expressed his enthusiasm, stating, "We are excited to unveil VeerHealth Care Limited's expansion project, marking a significant stride in our journey of growth and advancement. This decision underscores our commitment to enhancing our capabilities and delivering superior healthcare solutions to our clientele. Through land acquisition, facility construction, and investment in state-of-the-art technology, we aim to bolster our position in the healthcare sector and better cater to the community's needs. We are confident that this expansion will not only benefit our organization but also make a positive contribution to the broader healthcare landscape."

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