Kiri Industries has received approval for further investment of up to $168,000,000 (approximately Rs 1500 crore) in Claronex Holdings, a wholly owned subsidiary of the Company. Upon completion of the aforesaid investment, there shall be no change in the company’s shareholding percentage in Claronex Holdings, and it shall continue to remain a wholly owned subsidiary of the company.
The proposed investment is intended to, inter alia, enable repayment of the entire credit facility of $130 million, along with applicable interest, availed by Claronex Holdings, thereby making it completely debt free, and to facilitate the commencement of its business operations in trading. The proposed investment is tentatively expected to be completed within a period of six months. The Board of Directors of the Company, at its meeting held on January 03, 2025, has, inter alia, approved the same.
Kiri Industries is one of the largest manufacturer and exporter of wide range of Dyes, Intermediates and Chemicals from India.
| Company Name | CMP |
|---|---|
| Sudarshan Chemicals | 803.05 |
| Bodal Chemicals | 66.74 |
| Shree Pushkar Chem | 336.45 |
| Kiri Industries | 401.40 |
| Ultramar & Pigments | 420.75 |
| View more.. | |
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