Alok Industries allots shares on rights basis

Alok Industries Ltd has announced that the Committee of Directors (CoD) formed for the purpose of dealing with various issues related to Company's Rights Issue at its meeting held on May 05, 2009 approved the allotment of 40,87,23,061 equity shares divided into (i) 24,47,19,930 fully paid up equity shares of the face value of Rs 10/- each for cash a premium of Re 1/- per share; and (ii) 16,40,03,131 partly paid up equity shares (paid upto the extent of Rs 6/- per share i.e. Face Value - Rs 5/- and Premium - Re 1/-).

The stock was trading at Rs.13.93, up by Rs.0.08 or 0.58%. The stock hit an intraday high of Rs.14.25 and low of Rs.13.75.

The total traded quantity was 1261716 compared to 2 week average of 2794102.

Source : Equity Bulls

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