Kinetic Engineering Accelerates Growth: Redeems Preference Shares with Convertible Warrant Proceeds

Kinetic Engineering Ltd (KEL) has successfully redeemed its preference shares using proceeds from recently issued convertible warrants. This strategic move follows the company's announcement in January 2025 to raise INR 177 crore through convertible warrants. The redemption strengthens KEL's financial position as it pursues its ambitious goal of reaching INR 1,000 crore revenue by 2029. This development is part of KEL's broader strategy to expand its auto components business and invest in the electric vehicle sector. The company's promoters, led by founder Arun Firodia, continue to increase their stake, demonstrating confidence in KEL's growth trajectory and commitment to its future in the evolving automotive landscape.

 

Source: Business Standard, Kinetic Engineering Ltd official statements