Atal Realtech Limited Extends Rights Issue Deadline to September 18, 2024

Outcome of Board Meeting: Extension of Rights Issue for Atal Realtech Limited

Team Finance Saathi

09/Sep/2024

Bullet Points:

Atal Realtech Limited extends the rights issue deadline from September 10 to September 18, 2024.

The rights issue involves up to 3,70,05,000 equity shares at a price of ₹7 each.

This extension aims to give shareholders more time to exercise their rights.

On September 9, 2024, Atal Realtech Limited, a prominent player in the real estate sector, announced an extension to its ongoing rights issue. Originally set to close on September 10, 2024, the deadline has been pushed to September 18, 2024. This decision was made by the company's Board of Directors to provide additional time for eligible shareholders to participate in the rights issue.

The rights issue offers up to 3,70,05,000 equity shares with a face value of ₹2 each at an issue price of ₹7 per share. The issue price includes a premium of ₹5 per share, making it 3.5 times the face value. The rights are available to shareholders in a ratio of 1 new share for every 2 existing shares held as of the record date, August 22, 2024.

The extension is expected to provide shareholders with a better opportunity to exercise their rights and invest in the company at a favorable price. This move reflects Atal Realtech Limited's commitment to ensuring all eligible shareholders have the chance to participate in the rights issue.

The Board of Directors meeting, which commenced at 10:00 A.M. and concluded at 12:50 P.M. on September 9, 2024, was crucial in this decision-making process. The company has requested both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) to update their records accordingly.

For further details or queries, shareholders can contact the company's corporate services department or visit their official website. The company's managing director, Vijaygopal Parasram Atal, has signed off on this communication, affirming the authenticity and importance of the update.

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Outcome of Board Meeting: Extension of Rights Issue for Atal Realtech Limited

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