Atal Realtech Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on July 05, 2025
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Atal Realtech Limited has issued a corrigendum to the notice of its Extra Ordinary General Meeting (EGM) scheduled for July 5, 2025, in response to queries raised by BSE and NSE. A new resolution (Item No. 4) has been added to appoint M/s Sharp Aarth & Co LLP (FRN: 132748W) as Statutory Auditor for FY 2025-26, filling the casual vacancy caused by the resignation of M/s A. S. Bedmutha & Co on May 15, 2025. Clarifications have also been made on Items No. 2 and 3, which pertain to a preferential issue of equity shares and convertible warrants aggregating to approximately Rs 38.52 crore. The company has provided a detailed breakdown of the intended use of funds — Rs 17 crore towards investment in wholly-owned subsidiary Atal Realty Limited, Rs 11.89 crore for working capital (sales, marketing and R&D), and Rs 9.63 crore for general corporate purposes and issue expenses. The corrigendum also recalculates the pre and post-issue shareholding pattern, showing promoter shareholding moving from 32.83% to 32.47% (dilution of about 0.36%), with the post-issue capital assuming allotment of 1,68,75,000 equity shares and 72,00,000 warrants.
Shareholders will now vote on an additional item (auditor appointment) along with the preferential issue at the July 5 EGM. The preferential issue will result in dilution of existing shareholders' stakes, though the promoter's stake only slightly reduces. The substantive economic terms remain unchanged — this is primarily a compliance and disclosure correction.