Alok Industries- Updates

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With reference to the earlier announcement dated March 09, 2012 Jiwrajka Investment Private Limited (JIPL), one of the promoter group Company, had purchased the 1,60,00,000 Warrants convertible into equity shares from Arum Investment Private Limited in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time, Alok Industries Ltd has now informed BSE that JIPL on March 10, 2012 has exercised the option of conversion of 1,60,00,000 Warrants into equity shares of the Company. The said 1,60,00,000 Warrants have been accordingly converted into equity shares and the Company has at the meeting of the Executive Committee of Board of Directors held on March 10, 2012 issued and allotted 1,60,00,000 equity shares of the face value of Rs. 10.00 each for cash at a premium of Rs. 41.00 per share to JIPL.

JIPL has further informed that their holding in the Company after allotment of aforesaid shares on account of conversion of Warrants into equity shares and in the post-merger scenario would be 2,42,74,091 equity shares of the face value of Rs. 10/- each constituting 2.94% of the issued and paid up capital of the Company (post-merger scenario).

By virtue of the above allotment, the paid up equity share capital of the Company has increased from 78,77,84,357 equity shares of the face value of Rs. 10/- each to 80,37,84,357 equity shares of the face value of Rs. 10/- each. Further, the post-merger scenario, the paid up capital of the Company would increase from 80,37,84,357 equity shares of the face value of Rs. 10/- each to 82,62,69,357 equity shares of the face value of Rs. 10/- each.

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