Kiri Industries Limited has informed the Exchange about Disinvestment
KIRIINDUS · price
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Kiri Industries has sold its entire 37.57% stake in associate company DyStar Global Holdings (Singapore) Pte. Ltd. for a total consideration of US$689.03 million (approximately Rs. 5,800+ crores). The transaction involved two parts: 1,226,779 shares were acquired by Zhejiang Longsheng Group Co., Ltd. (a listed Chinese company), while 1,396,575 shares were bought back by DyStar itself. The sale was completed through an en bloc process managed by court-appointed receivers following Singapore International Commercial Court judgments. As a result, DyStar has ceased to be an Associate Company of Kiri Industries. In FY25, DyStar contributed Rs. 309.73 crores as share of profit and Rs. 2,414.71 crores to net worth based on Kiri's 37.57% stake.
This is a major cash inflow of nearly US$689 million for Kiri Industries from a significant overseas associate. Shareholders should expect a substantial boost to the company's cash position, potential special dividend or debt reduction, and a significant change in the company's future earnings profile given DyStar's large contribution to net worth and share of profits.