communications which is an electronics manufacturing company for the last many years and it has developed controllers and motors with collaborations and kel is developing gearboxes and axles and is now also planning to develop a good solution for ev batteries so with kinetic communications we will now offer motors controllers chassis gearboxes batteries all in one complete kit to two and three wheelers whoever wants it we will get them finetuned to their individual requirement in a completely integrated model firodia said he also said that kel has got a board approval to raise inr 54 crore by selling two pieces of land at its aurangabad facility and the proceeds from the sale will be used to prepay inr 18 crore of debt and modernisation as part of expansion of kels auto component business so that we get more business from american axle mahindra and others another plan to reduce debt is by promoters subscribing to new equity of about inr 26 crore for the past three years the promoters have been converting debt into equity as a result kel share price has soared 450 for modernisation we have already invested inr 34 crore to upgrade the plant for mahindras and will also invest another inr 34 crore for other customers he addedread alsokinetic to launch electric version of lunakinetic engineering reports 106 jump in ebitda in q4 fy22kinetic engineering forms subsidiary to focus on ev parts and assemblies marketkinetic engineering to raise inr 54 cr to expand cut debt and invest in ev arm pti published on aug 6 2023 at 0533 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app kinetic green kinetic communications firodia kinetic engineering ev controllers kinetic engineering kinetic watts volts auto component auto parts manufacturer homenewsauto componentskinetic engineering sets up new firm to make ev components