Grabal Alok raises equity holding in Hamsard to 75
22 Dec '06
3 min read
Grabal will be investing GBP 8 million in its wholly owned subsidiary viz. Grabal Alok International Ltd (GAIL, BVI) by way of preference shares.
GAIL, BVI in turn, would be investing the amount in equity shares / convertible bonds of Hamsard. GAIL, BVI already holds 26 percent equity stake and GBP 2 million worth of convertible bonds in Hamsard.
With the conversion of the above bonds / equity allotment of GBP 10 mn, GAIL, BVI would hold around 75 percent of the total equity of Hamsard.
Grabal Alok Impex Limited (Grabal), a leading manufacturer of embroidered products, was incorporated in the state of Maharashtra as a Public Limited Company on 17th December 1993.
Grabal is amongst the largest embroidery manufacturers in the country, manufacturing embroidered products for Apparel and Home Textile applications.
Grabal is promoted by Alok Industries Limited, the flagship company of the ALOK Group (Mumbai) and in Technical and Financial collaboration with Grabal, Albert Grabher Gessellschaft m.b.H. & Co. of the GRABAL Group (Austria).
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