Kiri Industries Limited — Others, 15-05-2025: Monitoring Agency Report

Kiri Industries Limited has shared a report from Crisil Ratings on the use of proceeds from a Rs 492.02 Cr preferential issue of convertible warrants. The funds are being used for debt repayment (Rs 125 Cr), working capital (Rs 150.02 Cr), legal/professional fees (Rs 50 Cr), financial help to subsidiaries (Rs 117 Cr), and general corporate needs (Rs 50 Cr). By the quarter end, Rs 319.28 Cr was utilized mainly for debt repayment, raw material purchases, vendor payments, and maintenance capex, with Rs 172.74 Cr still unutilized. Fund deployment is on track without delays.