Alok Industries approves conversion of partly paid 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 17, 2009 approved the conversion of 3rd lot comprising of 1,58,01,793 partly paid rights equity shares into fully paid equity shares of Rs. 10/- each pursuant to receipt of full and final call money Rs. 5/- per equity share from the holders of such partly paid shares.

The stock was trading at Rs.24.05, up by Rs.0.40 or 1.69%. The stock hit an intraday high of Rs.24.45 and low of Rs.23.40.

The total traded quantity was 3296885 compared to 2 week average of 5062734.

Source : Equity Bulls

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