Kinetic Engineering Ltd approves allotment of 2340499 shares

The meeting of the Share Allotment Committee of Board of Director of Kinetic Engineering Ltd, held on December 01, 2015, has approved the allotment of 23,40,499 Equity Shares of Rs. 10/- each at a Premium of Rs. 146/- per shares to 3 Foreign Currency Convertible Bond Holders viz., PineBridge Asia Partners II, L.P., AIA Singapore Private Limited and AIA International Limited as per the settlement reached with the Bondholders vide Settlement Agreement dated July 21, 2015.

Shares of KINETIC ENGINEERING LTD. was last trading in BSE at Rs.101 as compared to the previous close of Rs. 104.6. The total number of shares traded during the day was 53830 in over 574 trades.

The stock hit an intraday high of Rs. 108 and intraday low of 99.4. The net turnover during the day was Rs. 5472820.

Source : Equity Bulls

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