Kinetic Engineering has finalized investments of Rs one-billion to fuel its current and future business requirements. The company has finalized investment of Rs 300 million by way of CCPS (compulsorily convertible preference shares) to world’s leading investment house AIG; and also plans to float FCCBs (foreign currency convertible bonds) worth Rs700 million, subject to RBI approvals. Issue of both instruments is proposed at a minimum price of Rs156. 

Kinetic Engineering had mandated KBC financial products UK limited London and Kotak Mahindra UK Limited, Mumbai as joint lead managers for the FCCB issue. The Rs 300 million raised via CCPS would be utilized as growth capital to fulfil working capital and other requirements. The Rs 700 million raised via FCCBs would be used for capital expenditure requirements for executing orders for gearbox of Tata Motors’ small car and other export programs. With these investments in place, Kinetic Engineering plans to set up a brand new state of the art, gear manufacturing facility to manufacture gears and other powertrain components to provide supply to the passenger car segment. 

Other programs include manufacturing of engines for Italy based MV Agusta motorcycles, and others. Earlier in the year, Kinetic Group had announced completion of its business and financial restructuring aimed at tapping opportunities in the auto component manufacturing sector. Under this restructuring, Kinetic Engineering now focuses exclusively on auto-component manufacturing and has built up a client roster that includes Tata Motors, Force Motors and several international companies from Canada, USA and Europe including MV Augusta, Tomos, Carraro, Visteon, GKN Rockford and Piaggio.

Alibaba.com hosted its first Open Sesame event in India recently. With about 300,000 registered users, India is one of Alibaba.com’s most important markets worldwide and the biggest in Asia for its international marketplace. Held on the sidelines of the 5th China Products Exhibition, the event received overwhelming response and attracted over 100 small business people from all over the country. The event also provided an opportunity for Alibaba.com’s Indian members to get together and share their experiences in international trade and e-commerce. 

Alibaba.com is focused on helping small and medium suppliers and exporters from India promote their products to the world. It recently launched a new India channel (www.alibaba.com/countrysearch/IN/India.html), which provides an easy and efficient platform for international buyers to source from India. This is the first time Alibaba.com has launched a country-specific channel on its international marketplace, highlighting the importance of Indian products in today’s global trade landscape. Brian Wong, Alibaba.com Senior Director of International Business Development and Marketing, said, “India is a priority market for Alibaba.com in 2008 and beyond. We want to become the number one online marketplace for international trade to and from India. We plan to double our Indian membership base in 2008 and are actively looking for local partners”.