27Sep/080
Kinetic to invest Rs 30 crore in Mahindra Two Wheelers Pvt Ltd
Pune-based two-wheeler manufacturer Kinetic Motor has announced that it will invest up to Rs 30 crore in Mahindra Two Wheelers Pvt. Ltd., to buy 2.95 crore equity shares of the latter. Kinetic took this decision during its extraordinary general meeting held yesterday.
Kinetic's EGM also approved an increase in its authorized share capital from the current Rs 88.56 crore to Rs 93.56 crore, by creation of new five lakh redeemable cumulative preference shares of Rs 100 each.
[Via: Indiaautomotive]
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