Alok Industries allots 182100248 shares to QIBs

Alok Industries Ltd has announced that the Committee of Board of Directors of the Company at its meeting held on March 30, 2010, approved the issue and allotment of 182,100,248 equity shares of Rs 10/- each at an issue price of Rs 23.32 per equity share (including securities premium of Rs 13.32 per equity share of the Company to the Qualified Institutional Buyers ("QIBs") under Chapter VIII of SEBI ICDR Regulations.

The list of allottees include AXIS Bank Ltd - 21,440,823 shares (% of the Issue Size: 11.77), ICICI Bank Ltd - 21,440,823 shares (% of the Issue Size: 11.77), IDBI Bank Ltd - 21,440,823 shares (% of the Issue Size: 11.77), IFCI Ltd - 21,440,823 shares (% of the Issue Size: 11.77), State Bank of India - 21,440,823 shares (% of the Issue Size: 11.77) and The Jammu & Kashmir Bank Ltd - 10,720,412 shares (% of the Issue Size: 5.89).

The stock was trading at Rs.22.25. The stock hit an intraday high of Rs.22.60 and low of Rs.22.15.

The total traded quantity was 1746519 compared to 2 week average of 3496216.

Source : Equity Bulls

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