Kiri Industries Ltd Allots Equity Shares to Promoters Following Warrant Conversion
Kiri Industries Ltd announced the allotment of 51,45,446 Equity Shares to the promoters and members of the Promoter group on a preferential basis. The shares were allotted through the conversion of an equal number of Warrants.The Board of Directors approved the allotment during a meeting held on April 11, 2026. The conversion was executed at an issue price of Rs. 369/- per share, which included a premium of Rs. 359/- constituting the Warrant Issue Price.
The Company received the balance consideration of Rs. 181/- per warrant, representing 49.0515% of the Warrants Issue price. This consideration aggregated to Rs. 93,13,25,726/-.
The allotment details across the involved promoters and groups are presented below.
| Name of Allottee | Category | Total No. of warrants allotted | No. of warrants already converted into Equity | No. of warrants applied for conversion and Equity shares allotted | Consideration received (in Rs.) | No. of warrants pending for conversion |
|---|---|---|---|---|---|---|
| Manishkumar P Kiri | Promoter | 36,33,789 | 22,32,345 | 14,01,444 | 21,68,21,348/- | Nil |
| Anupama Manishkumar Kiri | Promoter Group | 38,00,000 | 23,34,453 | 14,65,547 | 22,67,38,881/- | Nil |
| Arunaben Pravinbhai Kiri | Promoter Group | 27,00,000 | 16,58,690 | 10,41,310 | 16,11,03,937/- | Nil |
| Hemil Manishkumar Kiri | Promoter Group | 32,00,000 | 19,62,855 | 12,37,145 | 19,05,75,986/- | Nil |
| Total | Total | 1,33,33,789 | 81,88,343 | 51,45,446 | 93,13,25,726/- | Nil |
Following this conversion, the Issued, Subscribed and Paid-up Equity Share Capital of the Company increased to Rs. 65,16,80,000/-. This represents 6,51,68,000 fully paid-up Equity Shares of Rs. 10/- each. The newly allotted equity shares rank pari-passu with the Company's existing equity shares.
The allotment was made to four investors: Manishkumar P Kiri, Anupama Manishkumar Kiri, Arunaben Pravinbhai Kiri, and Hemil Manishkumar Kiri (Promotor and Promotor Group). After the allotment, the issued, subscribed, and paid-up share capital of the Company stands increased to Rs. 65,16,80,000/-. Consequently, the promoter/promoter group shareholding increases from 36.72% to 41.71%.
KIRIINDUS Stock Price Movement
On Friday, Kiri Industries Limited shares edged higher to close at ₹405.5, marking a solid gain of 2.10%. The stock finished the session on a robust volume of 216,477 shares.Source:
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