Alstone Textiles Clarifies ₹300 Cr Preference Share Allotment

Alstone Textiles (India) Ltd has issued a clarification regarding its 41st AGM notice concerning the proposed issue of Non-Convertible Preference Shares (NCPS). The company clarified that the total authorized preference share capital is ₹500 Crore, but the actual proposed allotment is limited to ₹300 Crore, representing the conversion of an existing unsecured loan. This clarification addresses an inadvertent omission of the words "up to" in the AGM notice's Explanatory Statement, which had led to potential ambiguity. The company emphasized that this clarification does not alter the commercial terms or affect shareholder interests.