Kinetic Engineering sells its Stake in Mahindra for 182 Crores

First Published by IANS on 25 Feb, 2014 at 10:48 AM IST under Business

New Delhi:  Kinetic Engineering (KEL) today said it has sold its stake in Mahindra Two Wheelers to private equity investment group Samena Capital for Rs.182 crore.

“Kinetic will receive a consideration of approximately Rs.1,821 million (Rs.182 crore) and after certain committed payments including non-convertible debentures (NCD) repayments, cost of financing the net proceeds would amount to approximately Rs.109.8 crore, which KEL will use for its business operations,” the company said in a statement.

Last Updated on February 25, 2014 at 10:03 AM IST


Latest in this Section
View All News Articles in Business
 

Please Comment. Your opinion matters to us.