Atul Auto, an Indian company that manufactures and sells three-wheelers, acquires 1.06 crore equity shares of Khushbu Auto Finance Limited. The company informs the exchange on Friday, September 6, 2024. With this investment made by company in KAFL stands to Rs. 77.81 crores.
Atul Auto acquires 1.06 crore shares of face value of Rs. 10 each at an considering issue price of Rs. 18.90 per share, aggregating to Rs. 20.03 crores. After the investment, currently Atul Auto Limited is holding 100% share capital. Khushbu Auto Finance is wholly owned subsidiary of the company.
About Khushbu Auto Finance Limited (https://www.kafl.co.in/)
Incorporated on August 1994, KAFL is a RBI registered Non-Banking Finance Company categorized as Investment and Credit Company. KAFL IS primarily in the business of financing of three-wheelers of Atul Auto Limited and two wheelers of various brands.
Atul Auto has achieved turnover of Rs. 30.85 crores in FY 2022, Rs. 36.29 crores in FY 2023 and Rs. 42.79 crores in FY 2024. KAFL has an paid up share capital of Rs. 57.67 crores and net worth of Rs. 110 crores. The company has made a profit of Rs. 2.37 crores.
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