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Century Textiles allots 1 cr shares to Aditya Birla firms
28
Dec '15
Pursuant to exercise of right for conversion of warrants into equity shares, BK Birla Group controlled Century Textiles & Industries Limited has allotted the balance 1,01,80,000 equity shares of face value of Rs 10 each fully paid-up to two Aditya Birla Group firms, according to the information provided by the company to the BSE.

Aditya Marketing & Manufacturing Limited was allotted 41 lakh shares while another 60.8 lakh shares were allotted to IGH Holdings Private Limited, the BSE filing said. Both these companies are clubbed under promoter group companies whose holding has now increased to 50.21 per cent from 45.22 per cent.

In May 2015, Century Textiles had issued 18.65 million warrants without disclosing names of the companies. Subsequently in October, Kumar Mangalam Birla was named vice chairman of Century Textiles. (RKS)

Fibre2Fashion News Desk – India

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