Kinetic motors has merged into Mahindra and Mahindra`s subsidary company, where all the business undertaking now comes under the latter, in exchange for 100Cr cash+20% equity in the new entity to Kinetic motors. The deal has already been executed.
With this, Kinetic Motors becomes debt free and cash positive. Watch out for Sep results ( FY 09 ends in september for KM)
Bonanza time for Kinetic motors shareholders. Further comments can be found in Edserv column.
| NIFTY 
