Alok Industries Limited has informed the Exchange that : "Alok Industries Limited, flagship company of the Alok group with interests in textiles and infrastructure is on stream with financing plans for its infrastructure ventures. Alok's team of merchant bankers are in talks with private equity players and investment bankers and are confident of achieving closing in the near future. Company officials have also informed that the few forex trades that the company has entered into are mainly capital hedge trades and they are comfortable with the present positions on this account. These trades are in line with the company's stated policy for forex risk management to primarily hedge its payables and receivables."
Alok had recently taken a 50 per cent stake in Ashford Infotech to develop a million square feet of office space at a cost of 4 billion rupees on land it bought in the Mumbai suburb. Alok Infrastructure, which is an equal partner in the JV, invested 650 million rupees in the JV to fund the acquisition
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