Atul Auto completes acquisition of 70% stake in Khushbu Auto Finance
3rd Sep 2021

Atul Auto has completed the acquisition of 70% equity share capital of Khushbu Auto Finance (KAFL) whereby making it Wholly Owned Subsidiary on September 01, 2021. Before the acquisition, the company was holding 1,18,20,000 (30%) equity shares of KAFL. The company has now acquired remaining 2,75,80,000 (70%) equity shares of KAFL. After this acquisition, 100% shares are held by the company.

The acquisition is made with an object to ensure the desired finance support to the retail customers of vehicles of the company. With 100% control over KAFL, it will become a captive finance company. The sufficient availability of finance to the retail customers would give positive effect in sales of vehicles of the company.

Atul Auto is a leading manufacturer of 3-Wheeled Commercial Vehicles in the state of Gujarat, presently engaged in the manufacturing of Three Wheelers like 6-seater Auto Rickshaws, Pick-Up Vans and Chassis of Passenger Vehicles.