Rajkot based Atul Auto has announced its plans to enter into the four-wheeler commercial vehicle segment and has already started scouting for land near Ahmedabad to set up a plant with 50:50 joint venture.
The company is scouting for land in Ahmedabad with around Rs 200 crore investment.
The company is presently involved in manufacturing of only three-wheelers, however it wants to enter into four-wheeler segment.
Company’s right issue has been approved by Securities Exchange Board of India(SEBI).