Atul Auto soars 14%; board issues 5 mn warrants to ace investor Vijay Kedia

The board approved issuance of up to 5.81 mn convertible warrants at Rs 198 per share to promoters and non-promoters including ace investor Vijay Kedia

Shares of Atul Auto soared 14 per cent to Rs 244.85 on the BSE in Monday’s intra-day trade after the company's board approved a preferential issue of Rs 115 crore worth of warrants to promoters and non-promoters of the company, including investor Vijay Kishanlal Kedia.

“The board approved to issue up to 5.81 million warrants at Rs 198 per share each convertible into one equity share of the company within a maximum period of 18 months from date of allotment. The company will allot 5.05 million warrants to Vijay Kishanlal Kedia, and a total 757,575 warrant to promoters, Khushbu