Atul Auto receives BSE approval for allotment of bonus shares

MUMBAI: Atul Auto, a three wheeler manufacturer from Gujarat has received approval from BSE for issue and allotment of proposed bonus shares to the shareholders.

According to the BSE guidelines Atul Auto can issue & allot the proposed 36,57,200 bonus equity shares of Rs. 10/- each in the ratio of 1 (one) new equity shares for every 2 (two) existing equity shares held in the company subject to it fulfilling certain conditions which include submission of listing application form for the new securities, payment of additional listing fees on the enhanced capital, receipt of statutory and other approvals, compliance with Companies Act, listing agreement and any change in guidelines.

Atul Auto has informed BSE that the said book closure is on July 05, 2012. The exchange reserves its right to withdraw its in-principle approval at any later stage if the information submitted to the exchange is found to be complete for any contravention of rules, bye-laws and regulations of the exchange.

According to BSE, the company should not take any steps to dematerialise any of the securities pursuant to the in-principle approval given by the exchange.