Kiri Industries Ltd

Kiri Industries Invests ₹70 Cr in New Fertilizer Venture 🏭

• Kiri Industries will invest ₹70 crore in IndoAsia Agrotech Fertilizers Limited (IAFL)

• Investment involves subscribing to 7 crore equity shares at ₹10 face value each

• Upon completion, Kiri Industries will hold 99.93% of IAFL, making it a subsidiary

• IAFL is focused on setting up a fertilizer manufacturing facility in Gujarat

• The investment is expected to be completed within one month via cash consideration

• IAFL was incorporated in July 2024 and has not commenced commercial operations yet

• Current paid-up capital of IAFL is ₹5 lakh