Ashok Alco to raise Rs 25 Crores

Ashok Alco Chem Ltd has announced that the Board of Directors of the Company at its meeting held on August 30, 2008, inter alia, has decided to offer, issue and allot in one more tranches such number of Equity shares / Preference Shares (Cumulative or Non Cumulative, Redeemable or Non-Redeemable And / Or Foreign Currency Convertible Bonds loans / Non convertible debentures / Bonds up to Rs 25 crores to Indian or Foreign Investors (Whether institution, Mutual funds or otherwise Non Residents Indians, Foreign Institutional Investors, Qualified Institutional buyer Companies, Mutual Funds, Banks, Indian / Foreign Financial Institutions, Other entities and such other person through public issues, private placement, preferential allotments, right issues, qualified institutional placements, conversion of loan etc.

To call Annual General Meeting on September 30, 2008, inter alia, to consider and approve aforesaid issue as stated above.

Source : Equity Bulls

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