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Alok Industries increases rights issue size

MUMBAI: Textile firm Alok Industries will raise Rs. 450 crore through the issue of rights shares. In a notification to the Bombay Stock Exchange, the company said that the directors had decided to increase the size of the proposed rights issue to Rs. 450 crore from Rs. 300 crore. Last year, in October, the board had approved a rights issue of equity shares or convertible instruments, up to Rs. 300 crore.

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