Clarification21 Oct 2026, 04:40 pm
Kiri Industries Clarifies Objects of Preferential Issue
AI Summary
Kiri Industries Ltd has provided detailed clarifications on the objects of its preferential issue of 60,82,600 convertible warrants, following queries from the National Stock Exchange of India Limited. The company specified the utilization of funds, amounting to ₹50 crore for working capital, ₹217.92 crore for financial assistance to group companies (Indo Asia Copper Limited, Indoasia Agrotech Fertilizers Limited, Kiri Infrastructure Private Limited) for their respective projects, and ₹20 crore for general corporate purposes. The utilization timeline for all funds is confirmed as within 24 months from receipt. A direct link to the PCS certificate was also provided.
Key Highlights
- Clarified specific objects for preferential issue of warrants.
- ₹50 Cr allocated for working capital needs.
- ₹217.92 Cr to fund group companies' capital expenditure.
- Funds to be utilized within 24 months of receipt.
- Provided direct link to PCS certificate on company website.
Price Impact
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