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Kinetic Engineering has received in-principle approval from the Bombay Stock Exchange (BSE) to issue 1,03,56,725 warrants worth ₹177 crore, subject to shareholder approval.
The investment will be executed over 18 months, with an initial infusion of ₹55 crore by 31 March 2025. The funds will be allocated toward capital expenditure, tooling, and growth initiatives, particularly benefiting its electric vehicle-focused subsidiary, Kinetic Watts and Volts.
Investors include Transaction Square and Sai Geeta Penumetsa, along with the promoter group. The promoters plan to increase their stake from 59% to 70% by FY2027, reinforcing their long-term commitment to the company’s expansion.
News by Rahul Yelligetti.
