Kinetic allots 20.65 lakh shares to Sanyang unit

The board of directors of Kinetic Motor Company, which met today, passed a resolution for allotment of 20.65 lakh equity shares of Rs 10 each at Rs 66 per share to Billion Ally, a wholly-owned subsidiary of Sanyang Industry Company.

According to a release issued by Kinetic Motor to the BSE today, the paid up share capital of the company has increased from Rs 16.51 crore to Rs 18.57 crore.