Alok Industries’ promoter groups hike stake in the company

12 Jun 2013

Niraj Realtors and Shares, a promoter group company of Alok Industries has increased its stake in the company by purchasing additional 4,236,337 equity shares of the company on June 05, 2013 under creeping acquisition (constituting 0.31% of the paid up capital of the company) and thereby increased their holdings in the paid up capital of the company to 10.73% from 10.42%.

Besides, Niraj Holdings, another promoter group company, has purchased 7,444,701 equity shares of the company on June 05, 2013 in the open market under creeping acquisition (constituting 0.541% of the paid up capital of the company), thereby increasing its holding in the paid up capital of the company to 2.42% from 1.87%.

Further, Alok Finance, another promoter group company has purchased 3,654,987 equity shares on June 05, 2013 in the open market under creeping acquisition (constituting 0.265% of the paid up capital of the company), thereby increasing its holding in the paid up capital of the company to 4.88% from 4.61%.

Alok Industries evolved from a small trading business into India’s largest integrated textiles player. It is present across various verticals of the textile value chain - from yarn manufacturing to garmenting. Alok’s production facilities are at Silvassa, Vapi and Navi Mumbai. The company also has a presence in the domestic retail segment and in real estate through a wholly-owned subsidiary.

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