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Atul , along with subsidiary Atul Finserv, has increased its total stake in associate company Amal to 52.86 per cent from 36.74 per cent, the company said in a notice to the stock exchanges. Amal has allotted 24 lakh shares on preferential basis to its promoter Atul Finserv, which holds 48.48 per cent in the former, post allotment. The acquisition of additional 16.12 per cent shares of Amal was made post an order passed by the Board for Industrial and Financial Reconstruction in 2013, Atul said, and added it paid ₹2.4 crore for the additional stake that was adjusted against the share application money paid to Amal before the order was passed by the BIFR. Shares of Atul jumped 4.5 per cent at ₹2,472.75 on the NSE, while BSE-listed Amal slumped 3.47 per cent at ₹147.55.
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