Pioneer Embroideries approves the allotment of equity shares

Pioneer Embroideries has informed that the board of directors of the Company at its meeting held on March 15, 2013, has considered and approved the allotment of 16,57,981 equity shares allotted at price of Rs.21.11 per share and 31,25,948 equity shares allotted at price of Rs.19.77 per share to Pioneer-E-Com Fashions Limited on preferential basis amounting to Rs. 9.68 Crores in aggregate as per CDR approved package.

The above information is a part of company’s filings submitted to BSE.