Kinetic Engineering plans to raise 1 bln rupees

Newswire

MUMBAI, Dec 19 (Reuters) - Kinetic Engineering Ltd said on Wednesday it plans to raise 1 billion rupees to meet capital expenditure and working capital needs. Its board also plans to issue optionally convertible cumulative preference shares worth 135 million rupees to Micro Age Instrument Pvt Ltd, it said in a statement. (Reporting by Arpan Mukherjee; Editing by Sunil Nair )

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