Kinetic Engineering Limited disclosed a revised plan for utilization of funds received from a Warrant Issue, approved by the Board of Directors at their meeting held on November 13, 2026.
The revised allocation plan shows changes from the earlier proposed utilization across several categories while maintaining certain allocations unchanged:
Unchanged Allocations:
- Redemption of Preference Shares: ₹19.64 crore (unchanged from earlier plan)
- Payment of Overdue Liabilities: ₹4.82 crore (unchanged from earlier plan)
Revised Allocations:
- Investment in Subsidiary Company: Reduced to ₹104.00 crore from ₹120.00 crore (reduction of ₹16.00 crore)
- Capex including Solar Project: Reduced to ₹5.00 crore from ₹7.00 crore (reduction of ₹2.00 crore)
- Working Capital Requirements: Increased to ₹20.00 crore from ₹13.54 crore (increase of ₹6.46 crore)
- General Corporate Purpose: Increased to ₹5.22 crore from ₹1.84 crore (increase of ₹3.38 crore)
Total Utilization:
The total amount allocated under the revised plan is ₹158.68 crore, compared to ₹166.84 crore in the earlier plan, representing a net reduction of ₹8.16 crore in total fund utilization.
The disclosure was signed by Ajinkya Arunkumar Firodia, Vice Chairman & Managing Director (DIN: 00332204), and submitted to BSE Limited on November 13, 2026.