Announced Tue, 30 Jun · 19:56 IST
Board approves merger with Gujarat Kiran Polytex; share swap at 14.857 to 1
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-6.1%1-day move
₹18.22
prior close
—
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-6.1-1.3-6.6-11.3-15.7-20.4-32.2———
Up moveDown movePending
AI summary
Kiran Syntex board on June 30 approved merger with Gujarat Kiran Polytex under sections 230 to 232 of Companies Act 2013. Both operate in textile business. Swap ratio: 14.857 Kiran Syntex shares for every 1 Gujarat Kiran Polytex share. Gujarat Kiran Polytex FY26 revenue Rs 29.63 crore, net worth Rs 5.69 crore. Not a related party deal. Rationale is business efficiency and economies of scale. Total shares will rise from 42.5 lakh to about 1.65 crore. Subject to statutory approvals.
Likely market impact
Share count nearly quadruples post merger. Promoter holding rises sharply. Awaiting NCLT and other regulatory clearances.