Kinetic Engineering Ltd. secures in-principle BSE approval for ₹177 Crore Investment

Kinetic Engineering Ltd., a pioneer in the automotive and engineering sectors, has received inprinciple approval from the Bombay Stock Exchange (BSE) for the issuance of 1,03,56,725 warrants, amounting to ₹177 crores. This milestone is further strengthened by the overwhelming approval from shareholders, with 99.9967% of votes cast in favour of the investment.

In the recently held press conference in Mumbai, the company confirmed this development. Following this, it has now officially secured approvals from both SEBI and its shareholders, reflecting strong confidence in Kinetic Engineering's strategic direction. In addition to the promoter group, key investors participating include Transaction Square LLP and Sai Geeta Penumetsa.

To further strengthen its financial position and accelerate growth, the first tranche of ₹55 crores will be infused into the business by March 31, 2025. The funds will be allocated towards capital expenditure, tooling, and overall growth initiatives, with a significant portion directed towards Kinetic Watts and Volts, the company's subsidiary focused on the growing electric vehicle market.

Mr. Ajinkya Firodia, Vice Chairman, Kinetic Group, stated, "I am deeply committed to the success and resurgence of Kinetic Engineering. This investment marks a significant step in our journey of growth and transformation. We are focused on unlocking new opportunities, strengthening our market position, and creating long-term value for all stakeholders. We invite our investors to be part of this exciting phase and contribute to Kinetic Engineering's dynamic and prosperous future."

As part of this investment plan, the promoters also aim to increase their shareholding from the current 59% to 70% by FY2027, further demonstrating their long-term commitment to the company's growth.

Shares of KINETIC ENGINEERING LTD. was last trading in BSE at Rs. 174.80 as compared to the previous close of Rs. 179.30. The total number of shares traded during the day was 17962 in over 174 trades.

The stock hit an intraday high of Rs. 183.25 and intraday low of 171.10. The net turnover during the day was Rs. 3167259.00.

Source : Equity Bulls

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KINETICENGINEERING INE266B01017 BSEApproval Investment