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Kiri Industries Sells DyStar Stake for $690M
2 Jan
Summary
- Kiri Industries completed the sale of its DyStar Global Holdings stake.
- The company received $689.83 million for its 37.57% share.
- Funds will be used strategically, making the company debt-free.
Kiri Industries is set to achieve debt-free status earlier than anticipated, following the successful divestment of its 37.57% shareholding in DyStar Global Holdings. The transaction, finalized with Zhejiang Longsheng Group for a substantial sum of $689.83 million, saw the payment received by Kiri Industries on December 30, 2025.
This significant financial influx is expected to provide the company with a major boost. Manish Kiri, the Chairman and Managing Director, highlighted that the deal is projected to yield a windfall of approximately Rs 6,200 crore. The company has articulated its intention to deploy these newly acquired funds with strategic foresight.
With the completion of this stake sale, Kiri Industries is strategically positioning itself for future growth and financial stability. The company plans to leverage this capital infusion to eliminate its outstanding debts, marking a pivotal moment in its financial trajectory.
