Kinetic Engineering Ltd. — Capital/Financing Update 2024

Jun 4, 2024

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Date: 04 June 2024

To

The Manager - Corporate Relationship Department BSE Limited, 1st 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

Digitally signed by CHAITANYA MUNDRA DN: c=IN, postalCode=768201, st=ORISSA, CHAITAN street=JHARSUGUDA 768201, l=JHARSUGUDA, o=Personal, title=4221, serialNumber=84305ab3c8129dea3fde8e 633d832d7e0d39b0ec0224902040acf6ed 0c800da6, YA pseudonym=422120220901122344932, 2.5.4.20=5569253151ca719b4e2cfc6d0fef d8b56e4e8b53e1e9b7f471a2381ca59956 23, MUNDRA email=CSCHAITANYAMUNDRA@GMAIL.COM, cn=CHAITANYA MUNDRA Date: 2024.06.04 10:55:55 +05'30' Chaitanya Mundra Company Secretary and 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.) 18,54,60,000 (Rupees Eighteen Crore Fifty Four Lakhs 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. During the year ended 31.03.2024 the company subscribed 1,15,30,000 equity shares at the rate of 10 each amounting to Rs. 11,53,00,000/- Date of subscription Number of shares 03-10-2023 50,50,000 13-12-2023 14,80,000 02-02-2024 50,00,000 Total 1,15,30,000 Save and except what is mentioned above, the Promoter/ promoter group/group companies are not interested in the transaction.
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 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
Nature of consideration - whether cash consideration or share swapand details of the same;		Cash Consideration

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Cost of acquisition or the price at which the shares Rs 11.53 crores comprising of 1,15,30,000 are acquired; equity shares of Rs. 10 each, at par. Percentage of shareholding / control acquired and / At present Kinetic Engineering Ltd. 75.64% of or number of shares acquired; the total equity share capital of Kinetic Watts and Volts Limited. Brief background about the entity acquired in terms KWVL was incorporated under the of products/line of business acquired, date of Companies Act, 2013 on 27 September 2022 incorporation, history of last 3 years turnover, as a subsidiary of the Company. The turnover country in which the acquired entity has presence of KWVL = Nil and any other significant information (in brief);

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