Kinetic Engineering Ltd. — Capital/Financing Update 2024

Oct 16, 2024

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KEL:SH:SE:

Date: 16[th] October 2024

To

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

Scrip Code: BSE-500240

Subject: Investment in Subsidiary Company – Kinetic Watts and Volts Limited

Dear Sir/Madam,

Pursuant to the provision of Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, the following investment made by the company in its Subsidiary Company – Kinetic Watts and Volts Limited. The detailed disclosure is enclosed in Annexure A.

This is for your information please.

Kindly acknowledge receipt.

Thanking you.

Yours faithfully,

For Kinetic Engineering Limited

Chaitany Digitally signed by Chaitanya a Mundra Date: 2024.10.16 Mundra 14:38:32 +05'30' ________ Chaitanya Mundra Company Secretary & Compliance Officer

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 Authorized Capital Rs. 28,00,00,000/- (Rupees Twenty-Eight Crore only). Paid up Capital Rs. 23,54,46,000/- (Rupees Twenty Three Crore Fifty Four Lakhs Forty Sixty Thousand 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”;		Kinetic Watts and Volts Limited being a subsidiary is a related party of the company. The transaction falls within the ambit of related party transactions and is at arms’ length. The company subscribed 50,00,000 equity shares at the rate of 10 each amounting to Rs. 5,00,00,000/- (Rupees Five Crore) Date of Allotment Number of Shares 16-10-2024 50,00,000 Pre Shareholding Post Shareholding No. of Shares % of Shareholding No. of Shares % of Shareholding 1,40,30,000 75.65 1,90,30,000 80.82 Save and except what is mentioned above, the Promoter/ promoter group/group companies are not interested in the transaction.
Industry to which the entity being acquired 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 investment in subsidiary company to 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

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Nature of consideration - whether cash consideration or share swap and details of the same;	Cash Consideration
Cost of acquisition or the price at which the shares are acquired;	Rs. 5,00,00,000/- (Rupees Five Crore) comprising of 50,00,000 equity shares of Rs. 10 each, at par.
Percentage of shareholding / control acquired and / or number of shares acquired;	Post allotment of equity shares Kinetic Engineering Ltd. holds 80.82% of total paid up share capital of Kinetic Watts and Volts Limited.
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 any other significant information (in brief)	KWVL was incorporated under the Companies Act, 2013 on 27thSeptember 2022 as a subsidiary of the Company. The turnover of KWVL = Nil

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