Atul Auto Ltd to issue warrants to Vijay Kishanlal Kedia and Promoters

The Board of Directors of Atul Auto Limited at its meeting held today i.e. Saturday, October 08, 2022 has approved proposal to issue upto 58,08,080 (Fifty Eight Lakh Eight Thousand and Eighty Only) Fully Convertible Warrants ("Warrants"), each convertible into, or exchangeable, at an option of Proposed Allottee, within a maximum period of 18 months from the date of allotment of Warrants into equivalent number of fully paid up equity share of the Company of face value of Rs.5/- (Rupee Five Only) each at a price of Rs.198.00/- (Rupees One Hundred and Ninety Eight Only) each payable in cash ("Warrant Issue Price"), aggregating upto Rs.115,00,00,000/- (Rupees One Hundred and Fifteen Crore Only), to Specified Investors / Identified Investors (collectively called the "Investors") which also includes promoter (including member of promoter group), on preferential issue basis, subject to approval of shareholders.

Vijay Kishanlal Kedia - Non-promoter - 50,50,505 warrants
Khushbu Auto Private Limited - Promoter - 6,56,565 warrants
Jayantibhai Jagjivanbhai Chandra - Promoter - 1,01,010 warrants

Source : Equity Bulls

Keywords

AtulAuto ConvertibleWarrants FundRaising VijayKedia Promoters