Manishkumar P Kiri has Submitted to the Exchange a copy of Disclosure under Regulation 31 (2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
KIRIINDUS · price
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Promoter Manishkumar P Kiri has disclosed the release of encumbrance on promoter group shares of Kiri Industries Limited under SEBI Takeover Regulations. A facility agreement dated August 16, 2024 — where Mr. Manish Kiri and Kiri Industries were guarantors and Claronex Holding Pte Ltd was the borrower — has been fully repaid as of February 17, 2026. As a result, encumbrance on approximately 1.38 crore shares (around 23% of total share capital) held by six promoter group entities has been released. Lenders involved were Meritz Securities Co. Ltd. and TCM Asia Private Credit Fund VCC, with Catalyst Trusteeship Limited acting as security agent. A small residual encumbrance on shares of Late Pravinbhai Amratlal Kiri (55,891 shares) and Kiri Pravinbhai Amratlal HUF (3,682 shares) remains in favor of IFCL Limited from an earlier pledge.
This is a positive signal for shareholders — the release of encumbrance on a large block of promoter shares reduces the risk of forced selling and shows the promoter group has cleared a significant external borrowing obligation, strengthening the promoter group's clean holding position.