Listing Approval for 11,69,591 equity shares issued to promoters on preferential basis pursuant to conversion of warrants.
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Kinetic Engineering has received approval from BSE (dated 19 May 2025) to list 11,69,591 fresh equity shares of Rs. 10 each, issued at a premium of Rs. 161 (effective issue price of Rs. 171 per share) to its promoters on a preferential basis. These shares were allotted upon the conversion of warrants previously issued to the promoters. The aggregate value of this issuance is approximately Rs. 20 crore. Once trading approval is granted, these shares will start trading on BSE, leading to an increase in the promoter group's shareholding and a modest expansion of the company's total share base.
Promoter shareholding will increase, slightly diluting non-promoter shareholders. The shares are issued at a substantial premium (Rs. 161 over face value), suggesting promoter confidence in the company's valuation, but the eventual market price reaction will depend on trading approval and post-listing demand.