PE Fund Investments
e-moped maker Kinetic Green raises $20-M from Greater Pacific Capital
Pune-headquartered Kinetic Green has raised USD 20 million (INR 168 crore) in equity and debt from Greater Pacific Capital in return for a 4.58% stake in the company.While INR 67 crore has been raised by allotting 7,04,612 Series A CCPS (compulsorily convertible preferred shares), the company will issue 10,100 NCDs (non-convertible debentures) to raise the balance INR 101 crore.Kinetic Green sells scooters and mopeds including e-Luna, Zoom, Flex and Zin. Kinetic Green will use the proceeds for operating expenses, repaying debt and for investing in capital expenditure.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
