Alok Industries Ltd has informed that with reference to issue of 1% - 1400 unsecured Foreign Currency Convertible Bonds (FCCBs) of USD 50000 each aggregating to USD 70.00 million issued and allotted in two tranches i.e. in May and June 2005.
The Company have received one conversion notice from the Paying, Conversion and Transfer Agent for conversion of 83 FCCBs of USD 50000 each aggregating to USD 4.15 million into equity shares. In terms of the Offering Circular dated May 26, 2005, the Company has at the meeting of the Executive Committee of Board of Directors held on January 24, 2008 has issued and allotted 28,77,911 equity shares of the face value of Rs 10.00 each for cash at a premium of Rs 61.5875 per share to the allotttee as an outcome of conversion of above referred FCCBs. By virtue of conversion of 83 FCCBs referred above, the number of FCCBs and amount outstanding stands at 650 and USD 32.50 million respectively.
The Company will make an application for listing of the above referred 28,77,911 equity shares shortly. By virtue of the above referred conversion of FCCBs into equity, the paid up equity share capital of the Company has increased from 17,72,78,468 equity shares of the face value of Rs 10/- each to 18,01,56,379 equity shares of the face value of Rs 10/- each.
January 25, 2008
Alok Industres FCCBs
January 21, 2008
Alok Industries - FCCB updates
Alok Industries Ltd has informed that with reference to issue of 1% - 1400 unsecured Foreign Currency Convertible Bonds (FCCBs) of USD 50000 each aggregating to USD 70.00 million issued and allotted in two tranches i.e. in May and June 2005.
The Company have received one conversion notice from the Paying, Conversion and Transfer Agent for conversion of 20 FCCBs of USD 50000 each aggregating to USD 1.00 million into equity shares. In terms of the Offering Circular dated May 26, 2005, the Company has at the meeting of the Executive Committee of Board of Directors held on January 21, 2008 has issued and allotted 6,92,998 equity shares of the face value of Rs 10.00 each for cash at a premium of Rs 61.5875 per share to the allotttee as an outcome of conversion of above referred FCCBs. By virtue of conversion of 20 FCCBs referred above, the number of FCCBs and amount outstanding stands at 733 and USD 36.65 million respectively.
The Company will make an application for listing of the above referred 6,92,998 equity shares shortly. By virtue of the above referred conversion of FCCBs into equity, the paid up equity share capital of the Company has increased from 17,65,85,470 equity shares of the face value of Rs 10/- each to 17,72,78,468 equity shares of the face value of Rs 10/- each.
December 9, 2007
Alok Industries SEZ
Alok Industries Ltd has informed that the Government of India, Ministry of Commerce & Industry, Department of Commerce (SEZ Section), have vide their letter dated December 05, 2007 granted formal approval for development, operation and maintenance of the sector specific Special Economic Zone for Textile sector to be set up by Alok Infrastructure Pvt Ltd, a wholly owned subsidiary of the Company, at Surgani, Union Territory of Dadra & Nagar Haveli, Silvassa.
November 1, 2007
Alok Industries Business Updates
Alok Industries Ltd has informed about the Notable Events during the quarter ended September 30, 2007 as follows:
- 25000 new spindles at the Spinning Plant commissioned; 75000 spindles now operative.
- Final approval for textile specific Special Economic Zone at Silvassa received.
- Certificate from the Control Union Certifications, Netherlands certifying the Company's organic cotton project in the country to be in accordance with the "Global Organic Textile Standard — GOTS" standards for the processing of fibres from certified organic agriculture.
- Certificate from the Control Union Certifications, Netherlands certifying the Company's organic cotton project in the country to be in accordance with the OE 100 Standard of The Organic Exchange.
October 31, 2007
Alok Industries Q2FY07 Results
Alok Industries Ltd has announced the following Unaudited results for the quarter ended September 30, 2007:
The Company has posted a net profit after tax of Rs 429.70 million for the quarter ended September 30, 2007 as compared to Rs 326.40 million for the quarter ended September 30, 2006. Total Income has increased from Rs 4156.30 million for the quarter ended September 30, 2006 to Rs 4786.50 million for the quarter ended September 30, 2007.