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The board of Ashok Alco Chem on Wednesday allotted 4.5 lakh equity shares of ₹10 each at a premium of ₹20 a share to Aura Alkalies and Chemicals Pvt Ltd, a promoter group company. The shares were allotted following conversion of an equal number of warrants of ₹30 each held by the promoter group firm. Post-allotment, the holding of Aura Alkalies in Ashok Alco-Chem has increased to 54.75 per cent from 49.84 per cent. Consequently, it has become a holding company of Ashok Alco-Chem. Shares of Ashok Alco slumped 4.4 per cent at ₹109.8 on the BSE.
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