Vikas Lifecare Limited said that it is planning to acquire a company owning a 5-star hotel in Delhi NCR for a sum of around Rs. 1,20,00 crores in a move to diversify its business interests.

In this connection, the Indian polymer and polymer additive related chemicals trading company has evaluated and decided to submit an expression of interest to Edelweiss Asset Reconstruction Company.

Vikas Lifecare plans to fund the acquisition consideration from internal accruals and equity proceeds.