Kiri to raise Rs 3 billion to retire high cost debt

Kiri Industries Ltd has informed that a Meeting of the Board of Directors of the Company will be held on January 09, 2012, to consider and approve alongwith other business to raise fund upto Rs. 300.00 crores by way of QIPs/FCCBs/GDRs/Preferential Allotment of Equity or domestic convertible bonds and/or non-convertible debentures with warrants.

For the purpose of reducing the cost of funds of the Company by replacing higher cost debt with lower cost funds, and to strengthen capital base of Company and for general corporate purposes.

Kiri Industries Limited (KIL), fully integrated manufacturer of Dyes, Intermediates and Chemicals has embedded the culture of enhancing life with the chemistry of colours in KIRI family.

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