Alok Industries Limited announced a private placement to issue ?833,333,333? common shares at an issue price of INR 2 per share for the gross proceeds of INR 166,666,666 and 9% Optionally Convertible Preference Shares for the gross proceeds of INR 2,500,000,000; aggregate gross proceeds of INR ?4,166,666,666? on July 16, 2024.

The transaction has been approved by shareholders of company.