News ArticleKiri Industries Allots 60.83 Lakh Warrants to Promoter Group Raising Rs 288.92 Crore
Initial payment of Rs 75.12 crore received; promoter shareholding to reach 46.69% upon full warrant conversion
Kiri Industries Limited has raised Rs 288.92 crore through a preferential issue allotting 60,82,600 warrants to promoters and promoter group members at Rs 475 per warrant, receiving Rs 75.12 crore as initial payment. Conversion of these warrants will increase promoter shareholding to 46.69% on a fully diluted basis.
Kiri Industries Limited
Preferential Issue
Kiri Industries Limited has successfully raised Rs 288.92 crore by allotting 60,82,600 warrants to its promoters and promoter group at Rs 475 per warrant through a preferential issue. The company has received Rs 75.12 crore as the initial payment for these warrants.
The Board of Directors approved the preferential allotment on November 7, 2026, following shareholder approval on September 29, 2026, and received in-principle approvals from both BSE and NSE earlier in November.
Each warrant is issued at Rs 475 and the company collected 26% of this amount upfront, aggregating to Rs 75,12,01,100, from three promoter group allottees: Manishkumar P Kiri, Anupama Manishkumar Kiri, and Hemil Manishkumar Kiri.
Upon full conversion of warrants and payment of the balance amount, the company will issue equity shares with equal rights to existing shares, increasing the promoters' stake to 46.69% fully diluted.
The equity shares issued after conversion will be listed on both the BSE and NSE stock exchanges.
Highlights
- Total warrants allotted: 60,82,600
- Warrant issue price: Rs 475 each
- Total amount to be raised: Rs 288,92,35,000
- Initial amount received (26% upfront): Rs 75,12,01,100
- Promoter shareholding post conversion: 46.69% fully diluted
- Approvals received from BSE and NSE in early November 2026
Key Data Snapshot
What happened
- Kiri Industries allotted 60,82,600 warrants to promoters and promoter group members by way of a preferential issue.
- The warrant issue price was Rs 475 per warrant, totaling Rs 288.92 crore.
- Rs 75.12 crore (26% of the warrant price) was received upfront from the allottees.
Key details
- The allottee promoters are Manishkumar P Kiri, Anupama Manishkumar Kiri, and Hemil Manishkumar Kiri.
- The shares issued on conversion of warrants will rank pari passu with existing equity shares.
- Shareholding of promoters and promoter group will increase to 46.69% on a fully diluted basis after conversion.
Regulatory and governance context
- The allotment complies with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
- The issue received requisite approvals from the BSE and NSE in early November 2026.
- Equity shares issued post conversion will be listed on BSE and NSE.
Highlights
- Total warrants allotted: 60,82,600
- Warrant issue price: Rs 475 each
- Total amount to be raised: Rs 288,92,35,000
- Initial amount received (26% upfront): Rs 75,12,01,100
- Promoter shareholding post conversion: 46.69% fully diluted
- Approvals received from BSE and NSE in early November 2026
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
Allottees belong to promoters and promoter group
Promoters and promoter group allotted 60,82,600 warrants
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