Amal Ltd | Annual Report 2023-24 ii) Dividend The dividend proposed by the Board, if any, is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. b) Issue of shares under rights issue: On December 14, 2022, the Board of Directors of the Company approved the rights issue of equity shares. Subsequently the Right Issue Committee approved the rights issue of 29,37,662 equity shares of the face value of ` 10 each at a price of ` 170 per share (including a security premium of ` 160) in the ratio of 24:77, i.e. 24 new shares for 77 existing equity shares held by the eligible shareholders on record date, i.e. February 21, 2023. On March 23, 2023, the Committee has approved the allotment of 29,37,662 equity shares of face value of ` 10 each to the eligible shareholders. The entire proceeds received from the rights issue during the year amounting to ` 4994.03 lakhs were used for the objects stated in the offer document of the rights issue. Equity issue expenses of ` 56.87 lakhs have been adjusted against securities premium in the year ended on March 31, 2023. c) Details of shareholders holding more than 5% of equity shares: No. Name of the shareholder As at March 31, 2024 As at March 31, 2023 Holding % Number of shares Holding % Number of shares 1. Atul Finserv Ltd 48.48% 59,92,874 48.48% 59,92,874 2. Aagam Holdings Pvt Ltd 16.01% 19,79,339 16.01% 19,79,339 3. Atul Ltd (holding company) 1.38% 1,70,130 1.38% 1,70,130 d) Reconciliation of the number of shares outstanding and the amount of equity share capital: Particualrs As at March 31, 2024 As at March 31, 2023 Number of shares ` lakhs Number of shares ` lakhs Balance as at the beginning of the year 1,23,62,662 1,236.27 94,25,000 942.50 Add: Issue of fully paid-up shares through rights issue (refer Note 11(b)) - - 29,37,662 293.77 Balance as at the end of the year 1,23,62,662 123,6.27 1,23,62,662 1,236.27 Note 11 Equity share capital (continued)
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