Kiran Vyapar Invests ₹3 Cr in Alt Material Innovations

Kiran Vyapar Ltd has subscribed to 244 Series A CCPS in Alt Material Innovations Private Limited for a total consideration not exceeding INR 2,99,97,543 (₹2.99 Crores). This investment represents approximately 1.017% of Alt Material Innovations' post-issue paid-up share capital. Alt Material Innovations, incorporated in April 2023, is involved in manufacturing, trading, R&D of biological materials and related products. The acquisition is considered strategic, aimed at enhancing Kiran Vyapar's business activities. The transaction is not a related party transaction, and no governmental or regulatory approvals are required, though completion is subject to the allotment of Series A CCPS by Alt Material Innovations' Board.