Kinetic Engineering Capital Structure Change
Kinetic Engineering's promoter, Micro Age Instruments, acquired 23,00,000 equity shares via warrant conversion, increasing their stake from 20.52% to 24.94%.
- Promoter stake change
- +4.42%
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Kinetic Engineering's promoter, Micro Age Instruments, acquired 23,00,000 equity shares via warrant conversion, increasing their stake from 20.52% to 24.94%.
Kinetic Engineering completed the last tranche of warrant conversion to its promoters, raising ₹57 Crore. The funds will fund driveline export capex and electric two-wheeler subsidiary expansion.
Kinetic Engineering board approved conversion of 44,51,000 warrants into equity shares at ₹171 each, aggregating ₹76.11 Crore. Warrants held by Promoter Group entities.
Kinetic Engineering subscribed ₹10 Crore for 1 crore equity shares in its EV subsidiary KWVL at par. Post-allotment stake rose to 86.15%.