Kiri Industries 37.57% stake in DyStar valued at $481.60M; stock soars 7%

The buyout order to be executed at the value of US$ 481.60 million as ordered by SICC vide their judgement dated July 3, 2018, it added.

Jun 21, 2021 11:06 IST India Infoline News Service

Kiri Industries said in the filing that the Singapore International Commercial Court (SICC) has confirmed the final value of Kiris 37.57% stake in DyStar Global Holdings (DyStar) at US$481.60 Million (approximately Indian Rs3,570cr), after giving effects of two minor adjustments.

The buyout order to be executed at the value of US$ 481.60 million as ordered by SICC vide their judgement dated July 3, 2018, it added.

“We are pleased to inform that the Singapore International Commercial Court (“SICC”) vide its final judgement dated June 21, 2021 has confirmed the final value of Kiri’s 37.57% stake in DyStar Global Holdings Pte Ltd (DyStar) at US$481.60 Million (approximately Indian INR 3,570 Crore), after giving effects of two minor adjustments,” the company said.

The stock is currently trading at Rs619.85 up by Rs40.4 or 6.97% from its previous closing of Rs579.45 on the BSE. The scrip opened at Rs580.05 and has touched a high and low of Rs628.85 and Rs580.05 respectively.

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