Vishvas Infra buys Kamayani Patients Care

UP-based Vishvas Infrastructure Ltd (erstwhile Mefcom Agro Industries Ltd) acquired Kamayani Patients Care (India) Ltd, a 125-bed hospital with 10 years of existance record, last month at Rs 1.25 crore.

The company is planning to raise Rs 100 crore, for which the board of the company is meeting on December 13. The funds would be raised through debt and fresh issue of shares in India and overseas.

Vishvas Infrastructure has also acquired equity stake in Gypcrete Building India, a company engaged in the manufacturing of gypcrete and rapidwall building panels for the use of housing and building industry by setting up rapid flow gypsum calciner plant and rapidwall plant in India in technical collaboration with Rapid Building Systems, Australia.

This would be the first project of its kind and a pioneer in changing the basic concepts in the construction field.

This will strengthen the company's synergy and consolidate its business plans. The company has taken major initiatives to diversify in the field of infrastructure, developers and real estate business to take the company to new heights.

In the changing scenario of overall economic and infrastructure development across the country, the board has taken this initiative to equip itself for the robust growth of the company.

The company had earlier taken an initiative in the field of infrastructure by acquiring over 15 per cent stake in SRS Retreat Services, a real estate company based in north India.

Kamayani has reported a net profit of Rs 90 lakh at a turnover of Rs 13 crore. The hospital is planning to start open heart surgery next year, which would boost the profitability of Vishvas Infrastructure, said Ashok Marwal, director.

The company has signed an MoU with the government of Maharashtra to set up a hospital in Nagpur, he said.