Kinetic Engineering (KEL) board has approved the merger of Kinetic Motor (KMCL) with self in the swap ratio of 31 shares of KMCL for every four of KEL. The merged entity will now hold Kinetic Motor's 17% stake in Mahindra Two Wheelers. 
The board has also approved the appointment of Sulajja Firodia Motwani, a director of the company, as vice chairperson of the merged entity.
"KEL's stake in Mahindra Two Wheelers was indirectly, through Kinetic Motor which had no significant operations. KMCL was predominantly becoming an investment arm. Now, we have a clean and focused structure and this is the culmination of the restructuring in KEL," said Motwani said. Automobile News
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