Announced Tue, 30 Jun · 19:48 IST

Board approves merger with Gujarat Kiran Polytex

Listed Co AcquisitionNclt Scheme FiledStrategic Transactions View source PDF

Price

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Price reaction · full curve 14 horizons · vs prior close

-6.1%1-day move

₹18.22

prior close

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AI summary

Kiran Syntex board on June 30, 2026 approved merging with Gujarat Kiran Polytex (unlisted). Swap ratio: 14.857 Kiran Syntex shares for every 1 Gujarat Kiran Polytex share. Gujarat Kiran Polytex FY26 revenue was about Rs 29.63 crore versus Kiran Syntex Rs 14.89 crore. Not a related party deal. Both operate in textiles. Aim is business efficiency and scale. Total shares will jump from about 42.5 lakh to around 1.65 crore. Subject to NCLT and other approvals.

Likely market impact

Share count nearly quadruples post-merger. Promoter holding rises sharply. Deal needs NCLT and other clearances, so execution risk remains.