Kinetic Engineering Revises Warrant Fund Utilization Plan

Kinetic Engineering Ltd has announced a revised plan for the utilization of funds raised through a Warrant Issue. The total fund utilization has been revised downwards from ₹166.84 Crores to ₹158.68 Crores. Key changes include a reduction in investment in a subsidiary company from ₹120.00 Crores to ₹104.00 Crores and a decrease in Capex, including a solar project, from ₹7.00 Crores to ₹5.00 Crores. Conversely, funds allocated for Working Capital Requirements have increased from ₹13.54 Crores to ₹20.00 Crores, and for General Corporate Purpose from ₹1.84 Crores to ₹5.22 Crores. Redemption of Preference Shares and Payment of Overdue Liabilities remain unchanged.