Kinetic Engineering approves up to $18 million convertibles offering

By Devika Patel

Knoxville, Tenn., Jan. 22 - Kinetic Engineering Ltd. informed the Bombay Stock Exchange that it passed a resolution to issue up to $18 million in convertibles at an extraordinary general meeting on Jan. 22.

The bond issue was approved at a committee meeting of the board of directors on Dec. 21.

Other securities being considered include equity shares, depositary receipts and securities linked to equity shares or convertible into equity shares.

Based in Pune, India, Kinetic Engineering is an automobile manufacturer.

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