Atal Realtech Limited (ARL) has announced an extension of the closure date for its ongoing Rights Issue. The Rights Issue, initially set to close on September 10, 2024, will now remain open until September 18, 2024, to provide shareholders additional time to exercise their rights.
The Rights Issue offers up to 3,70,05,000 equity shares with a face value of ₹2 each, priced at ₹7 per rights equity share. This price includes a premium of ₹5. Eligible shareholders, as of the record date on August 22, 2024, can subscribe to one right share for every two equity shares held. The total amount raised through the issue is expected to reach ₹2,590.35 lakhs.
The decision to extend the Rights Issue was made during a Board of Directors meeting on September 9, 2024, to accommodate shareholders and ensure greater participation. The meeting started at 10:00 A.M. and concluded at 12:50 P.M.
Shareholders are advised to take note of the new closure date and take the necessary steps to participate in the Rights Issue before September 18, 2024.
