Vikas Lifecare Limited (VLL), a leading Indian manufacturing firm, is expanding its presence in the United Arab Emirates (UAE) with the launch of a subsidiary in Dubai. The new subsidiary, Vikas Lifecare LLC, will undertake commercial investments in the country, subject to regulatory approval by the Department of Economic and Tourism (DET).
VLL’s commitment to the UAE market is further demonstrated by the recent acquisition of a 50% stake in Portfolio Managing Events LLC (PME Entertainment), a Dubai-based event management company, for INR 1 billion. The company also acquired a majority stake in Sky 2.0, a popular nightclub situated in Dubai Design District (d3), for $79 million.
By launching a subsidiary in Dubai, VLL aims to expand its investment horizon and explore greater opportunities in the UAE’s rapidly growing commercial sector. The company’s recent success in raising INR INR 500 million ($6.03 million) through a qualified institutional placement (QIP) further highlights its commitment to scaling up its operations in the region.
As a leading player in the polymer and additive-related chemicals industry, VLL is well-positioned to leverage the UAE’s strategic location as a gateway to the broader Middle East and North Africa (MENA) region. With a highly skilled workforce and regulatory framework that supports business growth, the UAE is a natural choice for VLL’s expansion plans.
In conclusion, VLL’s decision to establish a subsidiary in Dubai represents a significant milestone in the company’s growth trajectory. With a strong track record of success and a clear commitment to the UAE market, VLL is poised to become a key player in the country’s dynamic and rapidly evolving commercial landscape.
