Kiri Industries Limited has informed the Exchange regarding 'Certificate under regulation 169(5) of SEBI (ICDR) regulations, 2018'.
KIRIINDUS · price
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Awaiting price reaction for this filing.
Kiri Industries has filed a statutory auditor's certificate confirming compliance with SEBI's ICDR Regulations for its preferential warrant issue. The company had allotted 1,33,33,789 warrants to promoter group members on October 15, 2024, at Rs. 369 per share (face value Rs. 10, premium Rs. 359). Of these, 37,94,751 warrants were converted into equity shares on November 13, 2024, and another 43,93,592 warrants were converted on August 11, 2025, with the balance consideration of Rs. 181 per share received in both tranches. Total consideration received across all three stages was approximately Rs. 173.27 crore (Rs. 25.07 crore on initial allotment, Rs. 68.68 crore on first conversion, and Rs. 79.52 crore on second conversion). The allottees were Manishkumar P Kiri, Manishkumar Kiri Arunaben, Pravinbhai Kiri Hemil, and Manishkumar Kiri. About 51.45 lakh warrants remain unexercised. The auditor (M/s Pramodkumar Dad & Associates) confirmed the funds came directly from the allottees' bank accounts with no fund circulation, and verified bank entries, board resolutions, and PAS-3 filings.
This is a routine regulatory compliance filing confirming that the company properly received funds from promoters for converting warrants into shares. It strengthens the company's equity base by roughly 81.88 lakh new shares from promoters, showing promoter confidence, and signals compliance with SEBI norms — generally a neutral-to-mildly positive governance signal for shareholders.