Kinetic Motor to issue pref shares to Billion Ally

Newswire

MUMBAI, Nov 26 (Reuters) - Kinetic Motor Co Ltd said on Monday its board approved issue of 871,795 cumulative compulsorily convertible preference shares with face value of 39 rupees each to Billion Ally Ltd. It said these preference shares will be convertible into equity shares of 10 rupees each within 18 months of allotment. (Reporting by Virendra Verma; editing by Sunil Nair) )

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