Ahmedabad, December 31, 2025: Kiri Industries Limited (BSE: 532967 | NSE: KIRIINDUS) has completed the en bloc sale of its entire 37.57 percent equity stake in DyStar, following the receipt of the full consideration amounting to USD 689,034,072.68. With the remittance completed on December 31, the related Share Purchase Agreement and Share Buy-Back Agreement now stand fully discharged by performance.
Transaction Completion and Cash Receipt
The company confirmed that the entire consideration for the sale of its DyStar holding has been remitted by the purchaser, Zhejiang Longsheng Group Co. Ltd. The transaction was executed as part of a court-directed en bloc sale process and involved Kiri Industries along with court-appointed joint and several receivers from Deloitte & Touche LLP.Upon completion of the sale and receipt of funds, the Share Purchase Agreement originally executed on May 29, 2025, along with the subsequent amended and restated agreement dated December 13, 2025, and the Share Buy-Back Agreement dated December 12, 2025, have all been discharged in full.
Impact on Corporate Structure
Following the completion of the transaction, DyStar has ceased to be an associate company of Kiri Industries Limited. The company confirmed that there are no continuing rights, obligations, board nominations, or special arrangements arising from the discharged agreements.The purchaser is not related to the promoter, promoter group, or group companies of Kiri Industries, and the transaction does not involve any related party considerations.
Key Transaction Details
| Particulars | Details |
|---|---|
| Equity stake sold | 37.57 percent in DyStar |
| Total consideration | USD 689,034,072.68 |
| Mode of sale | En bloc sale |
| Completion date | December 31, 2025 |
| Post-transaction status | DyStar no longer an associate |
Agreements Discharged
| Agreement | Original execution date | Status |
|---|---|---|
| Share Purchase Agreement | May 29, 2025 | Discharged by performance |
| Amended and Restated SPA | December 13, 2025 | Discharged by performance |
| Share Buy-Back Agreement | December 12, 2025 | Discharged by performance |
About the Company
Kiri Industries Limited is listed on both BSE and NSE and operates in the specialty chemicals segment, with a focus on dyes, intermediates, and chemical manufacturing. The company has been involved in the DyStar investment for several years, with the current transaction marking a significant corporate milestone through the monetisation of its entire stake in the global dyes major.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.