Reliance Industries Ltd invests Rs. 3300 crore in NCRPS of Alok Industries Ltd

Reliance Industries Limited is a promoter and holds 40.01% of equity share capital of Alok Industries Limited (AIL).

The Company has today, at around 11:00 a.m. (IST), subscribed to 3300,00,00,000 9% non-convertible redeemable preference shares of Re.1/- each of AIL, for cash at par, aggregating Rs. 3,300 crore.

The acquisition of these preference shares is a related party transaction approved by shareholders of the Company and is on arm's length basis. The Promoter, Promoter Group and group companies are not interested in the above transaction.

Shares of Alok Industries Limited was last trading in BSE at Rs. 21.55 as compared to the previous close of Rs. 21.33. The total number of shares traded during the day was 1832451 in over 4330 trades.

The stock hit an intraday high of Rs. 21.84 and intraday low of 21.35. The net turnover during the day was Rs. 39534257.00.

Shares of Reliance Industries Limited was last trading in BSE at Rs. 2589.85 as compared to the previous close of Rs. 2584.85. The total number of shares traded during the day was 67641 in over 6352 trades.

The stock hit an intraday high of Rs. 2606.00 and intraday low of 2573.55. The net turnover during the day was Rs. 175008138.00.

Source : Equity Bulls

Keywords

RelianceIndustries INE002A01018 Investment NCRPS AlokIndustries INE270A01029