India's largest fully integrated textile company Alok Industries Ltd said it has received an additional advance amounting to USD 25 million on August 31, 2015 under the Export Performance Bank Guarantee Scheme (EPBG).
In a filing to the Bombay Stock Exchange, Alok Industries informed, "The company have received an additional advance amounting to USD 25 million on August 31, 2015 under the Export Performance Bank Guarantee Scheme taking the total export advance received till date to USD 775 million."
Under the said scheme, as on august 31, 2015, the company received the total export advance of USD 775 million out of the targeted USD 1,633.33 million equivalent to about Rs 9,800 crore, it added.
The company manufactures and sells textile products in India. It offers compact yarn, dyed yarn, blended yarn, and organic cotton, apparel fabrics comprising woven and knitted fashion-wear and yarn-dyed fabrics, as well as technical textiles/work wear fabrics for industrial, aerospace, military, marine etc.
Meanwhile, shares of the company were trading at Rs 5.88 apiece, up 0.51 per cent, from previous close on BSE at 10:56 hours.