Kiri Industries Limited has informed the Exchange regarding 'Allotment of Securities'.
KIRIINDUS · price
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Kiri Industries has allotted 43,93,592 equity shares to promoters and promoter group members upon conversion of an equal number of warrants on a preferential basis. The shares were issued at Rs. 369 per share (including a premium of Rs. 359), with the company receiving the balance consideration of Rs. 181 per warrant, aggregating to about Rs. 79.52 crore. The allottees include Manishkumar P Kiri, Anupama Manishkumar Kiri, Arunaben Pravinbhai Kiri, and Hemil Manishkumar Kiri. Following this allotment, the promoter and promoter group shareholding has increased from 31.72% to 36.72%, and the company's paid-up equity share capital has risen to Rs. 60.02 crore (6,00,22,554 shares of Rs. 10 each). About 51.45 lakh warrants are still pending conversion out of the original 1.33 crore warrants allotted.
This is a promoter-driven capital infusion that strengthens the promoter group's stake by 5 percentage points, signaling confidence in the company. The new shares will dilute existing non-promoter shareholders marginally and increase the total share count, which could exert mild pressure on earnings per share.