Alok Industries raises Rs 460 crore through QIP

Alok Industries Ltd has announced with reference to the Placement of equity Shares of the Company under Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), 2009 (SEBI ICDR Regulations) up to Rs 350 Crore with an option to issue an additional equity shares upto Rs 110 crore. The total issue size including the issue of additional equity shares was upto Rs 460 crore.

The Committee of Board of Directors of the Company has declared the closure of the issue to Qualified Institutional Buyers with immediate effect and approved an issue price of Rs.23.32 (including a premium of Rs.13.32) per equity share under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

The stock was trading at Rs.22.90, down by Rs.0.50 or 2.14%. The stock hit an intraday high of Rs.23.65 and low of Rs.22.85.

The total traded quantity was 773303 compared to 2 week average of 3171587.

Source : Equity Bulls

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