Reliance Industries acquires 37.7% stake in Alok Industries

Reliance Industries acquires 37.7% stake in Alok Industries
WESPECH PTE LTD
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05.03.2020

MOSCOW (MRC) -- Alok Industries Ltd on Saturday allotted 83.33 crore equity shares of Rs1 each at a premium of Rs2 per equity share for cash at a total consideration of Rs250 crore to Reliance Industries Ltd (RIL), according to The Hindu BusinessLine. Pursuant to this acquisition, RIL will hold 37.7 per cent equity share capital of the Mumbai-headquartered integrated textile manufacturer.

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