Atul Limited. — Capital/Financing Update 2023

Nov 7, 2023

==> picture [352 x 112] intentionally omitted <==

November 07, 2023

The Manager Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001 Through: BSE Listing portal SCRIP CODE: 500027

The Manager Listing Department National Stock Exchange of India Limited “Exchange Plaza” C – 1, Block G Bandra Kurla Complex, Bandra (East) Mumbai – 400 051 Through: NEAPS portal SYMBOL: ATUL

Dear Sir,

Outcome of Board Meeting – Board approves Buy-back of fully paid up Equity Shares

Pursuant to regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company, at its meeting held on today, i.e., November 07, 2023, has, pursuant to the provisions of Article 61 of Articles of Association of the Company and Sections 68, 69 and 70 and all other applicable provisions of the Companies Act, 2013 (“ Act ”) and applicable rules made thereunder and in compliance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 ( “Buy-back Regulations” ) and subject to such other approvals, permissions and sanctions as may be necessary, approved the Buy-back of fully paid up Equity Shares by the Company having face value of 10/- each ( “Equity Share(s)” ) from open market through stock exchanges {i.e. through National Stock Exchange of India Limited (“ NSE ”) and BSE Limited (“ BSE ”), together “ Stock Exchanges ”}” prescribed under the Buy-back Regulations and the Act, for an amount not exceeding 50,00,00,000/- (Rupees fifty crores only) excluding transaction costs viz. brokerage, advisor’s fees, intermediaries fees, public announcement publication fees, filing fees, turnover charges, applicable taxes such as tax on distributed income on Buy-back, securities transaction tax, goods and services tax, income tax, stamp duty and other incidental and related expenses, etc. (“ Transaction Costs” ) (“ Maximum Buy-back Size ”) at a price not exceeding ` 7,500/- (Rupees seven thousand five hundred only) per Equity Share (“ Maximum Buy-back Price ”) payable in cash which represents 1.20% and 1.19% of the total paid-up equity share capital and free reserves (including securities premium account) as per the audited standalone financial statements and audited consolidated financial statements for the financial year ended on March 31, 2023, respectively from the equity shareholders | beneficial owners of the Equity Shares of the Company other than the Promoters, members of Promoter Group and persons in control of the Company (“ Buy-back ”);

==> picture [352 x 61] intentionally omitted <==

==> picture [352 x 112] intentionally omitted <==

At the Maximum Buy-back Size and the Maximum Buy-back Price, the indicative maximum number of Equity Shares to be bought back under the Buy-back would be 66,666 Equity Shares which represents 0.23% of the total number of outstanding Equity Shares of the Company. The actual number of Equity Shares bought back during the Buy-back will depend upon the actual price, excluding the Transaction Costs, paid for the Equity Shares bought back and the aggregate consideration paid in the Buy-back, subject to the Maximum Buy-back Size. Further, the number of Equity Shares bought back under the Buy-back will not exceed 25% of the total number of Equity Shares of the Company.

The Board has also constituted a Constituted a committee for the purpose of Buy-back (“ Buy-back Committee ”) and has delegated its powers to the Buy-back Committee to do or cause to be done all such acts, deeds, matters and things, as it may, in its discretion, deem necessary in connection with the Buy-back;

The Pre-Buy-back and Post Buy-back summarised shareholding pattern of the Company is attached hereto as Annexure A .

The Board meeting commenced at 10:15 am and concluded at 10:40 am.

Please acknowledge the receipt and inform the members of the Exchange.

Thank you,

Yours faithfully,

For Atul Limited

LALIT PATNI Lalit Patni

Digitally signed by LALIT PATNI DN: c=IN, o=Personal, title=3614, pseudonym=516594301dbbbf4a0cfd9fda f383a2d50d58c1ce57baf2ca828675b689b b7c0a, postalCode=396020, st=Gujarat, serialNumber=12e57a0c1a13a50412ce94 2250bfdfb5d658c0413d4e8fca6850513e9 61d4bb2, cn=LALIT PATNI Date: 2023.11.07 10:52:35 +05'30'

Company Secretary and Chief Compliance Officer

Encl.: as above

==> picture [352 x 61] intentionally omitted <==

==> picture [352 x 112] intentionally omitted <==

Annexure A

Pre Buy-back summarised shareholding pattern of the Company as on November 03, 2023 and Post Buy-back summarised shareholding pattern

Category	Pre - Buy-back as on November 03, 2023	Pre - Buy-back as on November 03, 2023	Post Buy-back*	Post Buy-back*
	No. of Equity Shares	% of total Equity Shares	No. of Equity Shares	% of total Equity Shares
Promoters and Promoter Group	1,32,97,428	45.06	1,32,97,428	45.16
Public	1,62,16,327	54.94	1,61,49,661	54.84
Total	2,95,13,755	100	2,94,47,089	100

*Assuming the Buy-back of Maximum Buy-back Shares, i.e. 66,666 Equity Shares, at the Maximum Buy-back Price, i.e., ` 7,500/- per Equity Share. The actual shareholding pattern post Buy-back may vary depending upon the actual number of Equity Shares bought back under the Buy-back.

For Atul Limited

Digitally signed by LALIT PATNI DN: c=IN, o=Personal, title=3614, LALIT pseudonym=516594301dbbbf4a0cfd9fdaf383a2d50d58c1ce57baf2ca828675b689bb 7c0a, postalCode=396020, st=Gujarat, serialNumber=12e57a0c1a13a50412ce942 250bfdfb5d658c0413d4e8fca6850513e961 PATNI d4bb2, cn=LALIT PATNI Date: 2023.11.07 10:52:47 +05'30' Lalit Patni

Company Secretary and Chief Compliance Officer

==> picture [352 x 61] intentionally omitted <==