Automobile manufacturer Kinetic Engineering today said it has received the approval from its board to issue 600,000 equity shares on preferential basis.
The board has authorised a committee of directors to decide on the allotment of 600,000 equity shares on preferential basis, Kinetic Engineering said in a filing to the BSE.
Further, the board has also decided to extend the current financial year of the company to beyond March 31, 2009. The current fiscal would be of 15 months and will close on June 30 this year, it added.
