Atul Auto Ltd approves corporate guarantee to facilities availed by Atul Greentech Pvt Ltd

The Board of Directors of Atul Auto Limited at its meeting held today i.e. Monday, March 06, 2023 decided and approved the corporate guarantee of Rs.11 Crore to Yes Bank in respect of credit facilities granted by the Bank to Atul Greentech Private Limited (AGPL), subsidiary of the Company.

Further, the Board of Directors also approved to obtain shareholder approval through postal ballot to the material related party transactions to provide / extend guarantee by the Company to the lending banks / financial institutions of AGPL in respect of loans / credit facilities to be granted to AGPL on such terms and conditions as the Board may deem fit, up to a maximum aggregate amount which shall not exceed Rs.125 Crore at any point of time during the period of five years w.e.f. FY 2023-24.

Shares of Atul Auto Limited was last trading in BSE at Rs. 359.80 as compared to the previous close of Rs. 346.30. The total number of shares traded during the day was 21850 in over 1011 trades.

The stock hit an intraday high of Rs. 363.95 and intraday low of 347.65. The net turnover during the day was Rs. 7788592.00.

Source : Equity Bulls

Keywords

AtulAuto INE951D01028 3Wheelers CorporateGuarantee AtulGreentech YesBank CreditFacilities