Kiran Syntex Board approves merger with Gujarat Kiran Polytex

Kiran Syntex Ltd's Board of Directors approved the Scheme of Merger with Gujarat Kiran Polytex Ltd. Kiran Syntex will be the Transferee Company, and Gujarat Kiran Polytex the Transferor Company. The merger aims to achieve business efficiency and economies of scale. The share exchange ratio is 14.857 shares of Kiran Syntex for every 1 share held in Gujarat Kiran Polytex. Post-merger, the shareholding pattern of Kiran Syntex will change, with promoter holding increasing from 1,985,635 to 12,086,686 shares and public holding from 2,264,265 to 4,410,270 shares. Both companies are engaged in the textile business. The transaction is not a related party transaction and is subject to necessary statutory and regulatory approvals. For 2025-26, Kiran Syntex reported revenue of ₹14.89 Cr and Gujarat Kiran Polytex ₹29.62 Cr.