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

Kinetic Engineering Limited has announced a monitoring agency report by CARE Ratings on the utilization of proceeds from its preferential issue, which raised Rs.166.84 crore against a planned Rs.177.10 crore due to undersubscription. The funds have been used in line with the stated objectives, mainly redemption of preference shares (Rs.19.64 crore utilized, Rs.32.26 crore unutilized), and payment of overdue liabilities (Rs.4.82 crore utilized). No funds were deployed for subsidiary investment, capex, working capital, or general corporate purposes in this quarter. Unutilized proceeds are primarily held in fixed deposits and dedicated bank accounts earning interest. Revised fund allocation will be finalized in upcoming board meetings.