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Alok Industries shares zoom 51% in four days post RIL investment
"The company has subscribed to 3300,00,00,000 9% non-convertible redeemable preference shares of Re 1/- each of Alok Industries, for cash at par, aggregating Rs 3,300 crore," RIL said in a filing. The acquisition of these preference shares is a related party transaction approved by shareholders of RIL and is on an arm's length basis.