Kinetic Engineering Ltd. — Capital/Financing Update 2022

Oct 1, 2022

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Date: 01 October 2022

To

The Manager - Corporate Relationship Department BSE Limited, 1st Floor, Phiroze Jeejeebhoy Towers, Fort, Mumbai- 400 001 Maharashtra, India

Scrip Code: BSE-500240

Subject: Additional Details – “Update on incorporation of Subsidiary Company”

Dear Sir/Madam,

This is with reference to letter dated 28 September 2022 on subject “Update on incorporation of Subsidiary Company”, The details required under regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are enclosed in Annexure A.

This is for your information please.

Kindly acknowledge receipt.

Thanking you. Yours faithfully,

For Kinetic Engineering Limited

Digitally signed by CHAITANYA MUNDRA DN: c=IN, postalCode=768201, CHAITAN st=ORISSA, street=JHARSUGUDA 768201, l=JHARSUGUDA, o=Personal, title=4221, serialNumber=84305ab3c8129dea3fde8e 633d832d7e0d39b0ec0224902040acf6ed 0c800da6, YA pseudonym=422120220901122344932, 2.5.4.20=5569253151ca719b4e2cfc6d0fef d8b56e4e8b53e1e9b7f471a2381ca59956 23, email=CSCHAITANYAMUNDRA@GMAIL.C MUNDRA OM, cn=CHAITANYA MUNDRA Date: 2022.10.01 11:15:42 +05'30'

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Chaitanya Mundra Company Secretary and Compliance Officer Membership No. ACS 57832

Encl: as above

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Annexure A

Name of the target entity, details in brief such as size, turnover etc.;	KINETIC WATTS AND VOLTS LIMITED Authorised Capital (Rs.) 30,000,000 (Rupees Three Crore only). Paid up Capital (Rs.) 27,040,000 (Rupees Two Crore SeventyLakh FortyThousand only).
Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arms length”;	The subsidiary company is a related party of the company. The Promoters / Promoters Group is having directly or indirectly interest in the subsidiary Company by holding 7.54% Shareholding of the Equity Shareholding.
Industryto which the entitybeingacquired belongs;	Automobile
Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	The subsidiary company is newly incorporated in India and shall carry out business in the field of Automobile.
Brief details of any governmental or regulatory approvals required for the acquisition;	Not Applicable
Indicative time period for completion of the acquisition;	Not Applicable
Nature of consideration - whether cash consideration or share swapand details of the same;	100% subscription to the share capital in cash.
Cost of acquisition or the price at which the shares are acquired;	Since it is a newly incorporated subsidiary company, the share was subscribed at par only. Total Investment is being made by the Company of Rs. 2,50,00,000/- comprising of 92.46% shareholding of the Subsidiary Company.
Percentage of shareholding / control acquired and / or number of shares acquired;	92.46% of the total Equity Share Capital of the Company.
Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and anyother significant information(in brief);	The entity incorporated on 27thSeptember, 2022 in India to carry out business in the field of Automobiles.

Digitally signed by CHAITANYA MUNDRA CHAITAN DN: c=IN, postalCode=768201, st=ORISSA, street=JHARSUGUDA 768201, l=JHARSUGUDA, o=Personal, title=4221, serialNumber=84305ab3c8129dea3fde8e633 d832d7e0d39b0ec0224902040acf6ed0c800d YA a6, pseudonym=422120220901122344932, 2.5.4.20=5569253151ca719b4e2cfc6d0fefd8b 56e4e8b53e1e9b7f471a2381ca5995623, email=CSCHAITANYAMUNDRA@GMAIL.COM, cn=CHAITANYA MUNDRA MUNDRA Date: 2022.10.01 11:16:25 +05'30'

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