Kinetic Engineering Ltd — Updates, 13-05-2025: Company Update

Kinetic Engineering Limited has announced a board meeting on the utilization of funds raised through preferential issues of convertible warrants totaling Rs. 56.71 Cr received so far out of Rs. 166.84 Cr. During the quarter, Rs. 41.71 Cr was received as subscription and Rs. 15 Cr converted into equity shares. The funds have been applied chiefly towards redemption of preference shares of a related party (Rs. 19.64 Cr) and payment of overdue liabilities (Rs. 4.82 Cr). No proceeds were utilized for subsidiary investment, capex including solar projects, or working capital in the quarter. The Board approved a revised utilization plan for the received funds.