Kinetic Engineering Limited announced that it expects to receive INR 208.505 million in funding from Arun Firodia Trust, Jayashree Firodia Trust

Kinetic Engineering Limited announced a private placement of 1,115,000 shares at a issue price INR 187 per share for gross proceeds INR 208,505,000 on May 30, 2024. The transaction includes participation from Jayashree Firodia Trust and Arun Firodia Trust. The transaction is subject to the approval of regulatory/statutory authorities and the shareholders of the Company.

Jayashree Firodia Trust will subscribe for 425,000 shares and Arun Firodia Trust for 690,000 shares. The transaction was approved by board of directors.