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News about Alok Industries Limited

January 10th, 2008

The media had reports that Alok Industries Limited may enter the hospitality space through its subsidiary, Alok Infrastructure. Further, it may also offload 20 percent in Alok Infrastructure to a private equity player to raise about Rs. 600 crore.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Alok Industries Limited has vide its letter inter-alia stated, “We have to inform you that while our company does have plans to enter the hospitality space, there is no proposal definitive enough for us to inform the Exchanges at this point in time. As and when such plans are firmed up, we shall inform the Exchanges. Further, you may note that we have already informed you earlier about the acquisition of certain properties through our wholly owned subsidiary (WOS). The WHO is looking at different financing models, including private equity. We shall inform you about any development in this regard.”

Entry Filed under: Equities, NSE, Healthcare, Infrastructure