Kiri Industries shines on getting nod to open FCCBs issue worth Rs 175 crore

Kiri Industries is currently trading at Rs. 24.20, up by 0.15 points or 0.62% from its previous closing of Rs. 24.05 on the BSE.

The scrip opened at Rs. 24.25 and has touched a high and low of Rs. 24.60 and Rs. 23.50 respectively. So far 2,843 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 137.00 on 13-Oct-2011 and a 52 week low of Rs. 20.35 on 05-Jul-2012.

Last one week high and low of the scrip stood at Rs. 25.10 and Rs. 23.00 respectively. The current market cap of the company is Rs. 45 crore.

The promoters holding in the company stood at 50.70% while Institutions and Non-Institutions held 19.35% and 29.95% respectively.

Kiri Industries has received an approval to open the issue of Foreign Currency Convertible Bonds (FCCBs) on October 31, 2012 for an amount of up to Rs 175 crore subject to the compliance and approvals as may be required.

The board at its meeting held on September 29, 2012 has approved for the same.

Kiri Industries is engaged in manufacturing of high quality dyes and intermediates. It supplies reactive, acid, and direct dyes as well as dye-intermediates in various forms like standardized spray dried/tray dried-powder/granular, crude and reverse osmosis.