Board Meeting24 Sept 2026, 10:16 pm
Kinetic Engineering: 44.51 Lakh Warrants Convert to Equity
AI Summary
Kinetic Engineering Ltd announced the outcome of its Board Meeting held on September 24, 2026. The board approved the transfer of 23,00,000 warrants among promoter group members, specifically from Mr. Arun Hastimal Firodia and Arun Firodia Trust to Micro Age Instruments Private Limited. Additionally, the company approved the conversion of 44,51,000 warrants into fully paid-up equity shares. These shares have a face value of ₹10 each and were issued at a price of ₹171 per share, including a premium of ₹161. The total amount raised from this conversion is ₹76,11,21,000. The meeting also noted that 6,36,134 warrants will lapse upon expiry.
Key Highlights
- 23,00,000 warrants transferred within promoter group.
- 44,51,000 warrants converted into equity shares.
- Equity shares issued at ₹171 each, including ₹161 premium.
- Total ₹76.11 crore raised from warrant conversion.
- 6,36,134 warrants to lapse upon expiry.
Price Impact
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