MUMBAI, Jan 22 (Reuters) - Auto parts maker Kinetic Engineering Ltd said on Tuesday it has signed an agreement to sell some of its land and building near Pune for 480 million rupees.
The company also said its board has approved merger of group firm Jaya Hind Sciaky Ltd's auto parts division with itself. Kinetic will issue shares in the ratio of 3.8 shares for every share held, totally issuing 1.78 million shares. (Reporting by Prashant Mehra; Editing by Prem Udayabhanu)