Tilak Finance Ltd has announced that the Board of Directors of the Company at its meeting held on July 21, 2010, has approved to allot 1,09,95,000 equity shares of Rs. 10/- each at Rs. 15/- per share, (including a premium of Rs. 5/- per share) on preferential basis to Promoters and Non promoter Applicants as per list placed before the meeting.