Kirloskar Electric Allots Rs 40 Crore Preferential Shares To Promoter Group

Board allotted 34,68,007 shares at Rs115.34 to promoter-group Kirloskar Power Equipments for ~Rs40Cr and approved closure of 2015 Master Restructuring Agreement with Bank of India consortium. Allotment advances pending promoter infusion toward working-capital support while MRA exit after term-loan repayment marks progress on balance-sheet repair underlying going-concern. KPEL stake rises to 6.6% with dilution; listing formalities and fund use eyed while creditor overhang and blocked Hubballi sale keep liquidity stress.