Kiri Industries Share Price Up By 9% on Jan 31; Know Why?

Kiri Industries Limited has achieved a significant legal victory in Singapore, as the Court of Appeal upheld the company’s claims regarding the buyout of DyStar. The court rejected the appeal of Senda International Capital Limited (“Senda”) and ruled in favour of Kiri Industries, awarding a priority payment of US$603.80 million along with interest. This ruling reinforces Kiri Industries’ rightful claim over DyStar’s en bloc sale proceeds.

Court Decision and Financial Implications

The Supreme Court of Singapore fully supported the decision made by the Singapore International Commercial Court (SICC), which valued Kiri Industries’ equity stake at US$603.80 million. The court found no unfairness in the financial obligation imposed on Senda, affirming that the buyout order remains valid. Additionally, the court ordered that Kiri Industries is entitled to an annual interest rate of 5.33% on the buyout amount, starting from 3rd September 2023 until the payment is completed.

Legal Cost Reimbursement and Final Ruling

Apart from awarding the principal amount and interest, the court also mandated Senda to cover Kiri Industries’ legal expenses for both appeals. This includes reimbursement for all costs incurred throughout the legal proceedings. The ruling marks a decisive end to the dispute, ensuring that Kiri Industries receives its due payment from the sale of DyStar.

Kiri Industries Share Performance

As of January 31, 2025, at 12:15 PM, the shares of Kiri Industries are trading at ₹630.50 per share, up 8.3% from yesterday’s closing price. Over the last month, the stock has surged by 2% and over the past year, it has surged by 53%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.