Financial Daily from THE HINDU group of publications
Wednesday, Apr 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 21, 2004 |
||
|
|
||
|
Corporate
-
Preferential Allotments Alok Industries to raise Rs 101.2-cr mezzanine finance Our Bureau
Mumbai , April 20 BRESCON Corporate Advisors has successfully advised Alok Industries Ltd on raising Rs 101.2 crore of mezzanine finance from MezzAsia Capital LP. MezzAsia Capital LP is a dedicated mezzanine fund managed by CLSA Mezzanine Management Ltd, with investment advisors located in Singapore and Hong Kong. The transaction involved an issuance of cumulative redeemable preference shares aggregating Rs 68 crore and warrants convertible into equity shares aggregating Rs 33.2 crore, according to a company press release. The warrants are convertible at a price of Rs 55.67 per share within 18 months of allotment. According to Mr Dilip Jiwrajka, Managing Director, Alok Industries Ltd, "The flexibility provided to us in terms of servicing the instrument in this transaction was distinctive. Further receiving equity like risk capital with relatively less dilution and cost will benefit Alok shareholders." Mr Nirmal Gangwal, Managing Director, Brescon, who sees a huge opportunity for mezzanine funding in India said,
More Stories on : Preferential Allotments
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|