Kiri Industries Limited announced a significant legal triumph as the Court of Appeal of Singapore upheld its claims, awarding a US$603.80 million payout, along with 5.33% annual interest on the buyout amount. The court prioritized Kiri’s payout over Senda International Capital Limited, reinforcing Kiri’s rights in the DyStar dispute. This major legal win led to an 8% jump in Kiri Industries’ shares, trading at ₹629.60 on January 31.
Key court highlights:
- Priority Payout: US$603.80 million approved from the en bloc sale of DyStar, surpassing Senda’s claims.
- Interest: 5.33% annual interest, effective from September 3, 2023, until payment completion.
- Legal Costs: Senda ordered to cover Kiri’s legal expenses from the appeal.
The verdict affirms shareholder protection and guarantees Kiri a fair exit valuation.
Stock Performance Details:
- Current price: ₹629.60 (up 8.22%)
- Previous close: ₹581.80
- Day range: ₹584.60 – ₹639.95
- 52-week range: ₹280.25 – ₹699.90
- Market cap: ₹35.12 billion
- Average volume: 355.94K
- P/E ratio: 11.89
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