Alok Industries converts partly paid equity shares

Alok Industries Ltd has announced that the Committee of Directors formed for the purpose of dealing with various issues related to Company's Rights Issue at its meeting held on May 05, 2009 issued and allotted 16,40,03,131 partly paid up rights equity shares (paid upto the extent of Rs. 6/- per share i.e. Face Value - Rs. 5/- and Premium - Re. 1/-).

The Committee of Directors for the Rights Issue at its meeting held on September 01, 2009 approved the conversion of 1st lot comprising of 10,43,53,607 partly paid rights equity shares into fully paid equity shares of Rs. 10/- each, pursuant to receipt of balance call money (i.e. @ Rs. 5/- per equity share) from the members.

The stock closed the day at Rs.22.45, up by Rs.0.05 or 0.22%. The stock hit an intraday high of Rs.22.75 and low of Rs.22.05.

The total traded quantity was 3988269 compared to 2 week average of 4899782.

Source : Equity Bulls

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