Business Daily from THE HINDU group of publications
Sunday, Jul 13, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Sunday, Jul 13, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Venture Capital Funding for Alok Industries Mumbai, July 12 The Netherlands Development Finance Co has extended $25 million to Alok Industries Ltd, a Mumbai-based integrated textile company. Alok Industries will receive funding for seven years to import capital goods, besides supporting other textile-related activities allowed by the Reserve Bank of India, said Mr Dilip Jiwrajka, Managing Director, Alok Industries. The Netherlands Development Finance Co, with an investment portfolio of œ3.4 billion, invests risk capital in companies and financial institutions. Besides financial support, the Netherlands-based bank will also advise Alok Industries on social and environment-related aspects, Mr Jiwrajka added. Shares of Alok Industries were trading at Rs 38.35, down 6 per cent against the previous close of Rs 40.70. The company with sales of Rs 2,159 crore reported a net profit of Rs 167 crore in the previous fiscal. - Our Bureau More Stories on : Venture Capital | Textiles
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