Alps Industries allots 6% Optionally Cumulative Convertible Preference Shares

Alps Industries Ltd has allotted 26,934,146, 6% Optionally Cumulative Convertible Preference Shares under category 'B' for the lenders of unsecured term loans at an issue price and face value of Rs. 10/- each on August 22, 2012, in terms of the approval taken from the shareholders of the Company.

This is in terms of the "In-principle" approval for preferential allotment under Clause 24(a) of the Listing Agreement for 2,75,20,000 quasi equity instruments (6% Optionally Cumulative Convertible Preference Shares under Category 'B') from Stock Exchanges.

The Alps Industries Ltd stock was trading at Rs.1.88, down by Rs.0.02 or 1.05%. The stock hit an intraday high of Rs.1.88 and low of Rs.1.85.

The total traded quantity was 4800 compared to 2 week average of 2633.

Source : Equity Bulls

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