Kiri Industries has received approval from its board of directors to raise funds of up to ₹492 crore through the issuance of warrants. This decision was made during a recent board meeting and is part of the company’s strategy to enhance its capital structure and support future growth initiatives.
The funds raised from the warrant issue will be utilized for various purposes, including working capital requirements and potential expansion projects. Kiri Industries, known for its operations in the dyes and chemicals sector, aims to leverage this capital to strengthen its market position and drive further growth.
Recently, Kiri Industries reported impressive financial results, with net sales reaching ₹265.17 crore for the quarter ended June 2024, reflecting a year-on-year increase of 16.65%. The company also reported a substantial rise in net profit, highlighting its operational efficiency and growth trajectory.
As Kiri Industries moves forward with this fundraising initiative, it demonstrates its commitment to maintaining a robust financial foundation while pursuing strategic opportunities in the competitive market.
