Enclosed herewith Monitoring Agency Report for the quarter ended on December 31, 2025.
KIRIINDUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kiri Industries has submitted the CRISIL Ratings monitoring report on how it has used the Rs 492.02 crore raised through a preferential issue of convertible warrants (issued September–October 2024 at Rs 369/share). Of the Rs 398.88 crore actually received so far from warrant conversions, Rs 398.41 crore (99.9%) has been deployed. The bulk went into working capital (Rs 147.77 cr of Rs 150.02 cr planned) and debt repayment (Rs 122.35 cr of Rs 125 cr). Legal/professional fees for the Singapore case stand at Rs 37.08 cr used out of Rs 50 cr (Rs 2.16 cr spent this quarter). Group/subsidiary loans (Rs 70 cr of Rs 117 cr) and general corporate purposes (Rs 21.21 cr of Rs 50 cr) remain partly unutilised, and Rs 93.14 crore is yet to come in from remaining warrant holders. No deviation from stated objects, no major changes from earlier reports, and no delays have been flagged.
Routine regulatory filing – nothing materially negative. Utilization is largely on track and broadly matches the original plan. For shareholders, the key positive is that the warrant issue price of Rs 369 is well below the current market price of Rs 476.35, making warrant conversion attractive, though Rs 93 crore is still pending from warrant holders and a sizable chunk earmarked for group companies and GCP remains unspent.