Alankit Ltd. to invest in Alankit Imaginations Ltd.

The Board of Alankit Ltd. has considered and approved making investment by way of acquiring 100% stake in Alankit Imaginations Limited ('Group Company') i.e. 14,00,000 Equity Shares of face value of Rs. 10 each at a price of Rs. 47.30/- including premium of Rs. 37.30 per share making it wholly owned subsidiary totaling investment of Rs. 6.62 Crores, subject to necessary approvals, if any.

The Board further approved acquiring upto 26,00,000 additional equity shares face value of Rs. 10 each at a price of Rs. 47.30/- including premium of Rs. 37.30/- per share via subscribing to proposed Private Placement offer of Alankit Imaginations Limited ('Group Company') totaling investment of Rs. 12.30 crores, subject to necessary approvals, if any.

The Board approved making investment in 100% equity of Alankit Insurance Brokers Limited i.e. 10,00,000 Equity Shares of face value of Rs. 10 each making it wholly owned subsidiary of the Company.

EQUITYBULLS