The Hindu Business Line : Alok issues FCCBs worth $28.875 m

ALOK Industries Ltd, a new generation player in the home textiles, apparel fabrics and garments sector, has wrapped up its issue of foreign currency convertible bonds (FCCBs) worth $28.875 million (about Rs 133 crore). The bonds are unsecured and fully and compulsorily convertible with relation to prevailing market price.

The company registered a turnover of Rs 1,066 crore in the last fiscal against Rs 795 crore the previous fiscal, while net profit touched Rs 62.70 crore, against Rs 42.31 crore in the previous fiscal. "Despite a not altogether optimistic market, we are fortunate to have amongst the allottees some of the leading institutional investors," said Mr Nimish Shah, Managing Director of Fortune Financial Services Ltd, which was the financial adviser to the issue.

More Stories on : Overseas Borrowings | Textiles

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bayer-Roche deal `unlikely' to hit Saridon, Supradyn

Balrampur Chini promoters seek loan from sugar fund

BHEL bags order for HPCL captive unit

Lodha files for probate; Birlas to contest

Alok issues FCCBs worth $28.875 m

Govt mulls making statutory changes in Competition Act

147 prosecutions for Cos Act violation on fixed deposits

Zee to set up global operations HQ at Dubai Media City

Underwriters Labs plans tie-ups to expand reach

Metal Box rehab impasse continues

Kirloskar Oil Engines aims for higher exports

Nadukkara Agro bets on Jive sales for turnaround

New City, Accord help Honda Siel turn around

Oracle's ERP tool helps boost LMW revenue

Tecumseh posts 84 pc rise in export earnings

Rajiv Batra is CFO of Cummins India