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Thursday, Mar 25, 2004

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Corporate - Preferential Allotments

Alok Ind mulls pref issues

Our Bureau

Mumbai , March 24

ALOK Industries Ltd has informed the Bombay Stock Exchange about its preferential issue plans.

It said it is proposing to issue 35.58 lakh equity shares of Rs 10 each to the promoters and Khandelwal Polyester Pvt Ltd on a preferential basis; 29 lakh OFCDs to Life Insurance Corporation of India on a preferential basis; 59.66 lakh warrants to TAD (Mauritius) Ltd (foreign investor) on a preferential basis; and, 6.8 crore cumulative non-convertible redeemable preference shares to the foreign investor on a preferential basis.

An extraordinary general meeting will be convened on March 29, to seek the members' approval for the above purposes.

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