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Kiri Industries Limited has announced the completion of the en bloc sale of its entire 37.57% stake in DyStar Global Holdings (Singapore) Pte. Ltd., an associate company. The Receivers, court-appointed by the Singapore International Commercial Court (SICC), transferred the full consideration of US$689,034,072.68 (approximately ₹5,730 crore) to Kiri Industries' account on December 30, 2025. This transaction, finalized through a Share Purchase Agreement dated May 29, 2025, and an Amended and Restated Share Purchase Agreement dated December 13, 2025, results in DyStar ceasing to be an associate company of Kiri Industries.

The total amount received includes purchase consideration, share buyback consideration, interest, and costs awarded by the SICC. The sale involved the acquisition of 1,226,779 shares by Zhejiang Longsheng Group Co., Ltd. and a buyback of the remaining 1,396,575 shares by DyStar itself. The company had previously obtained shareholders' approval for this disinvestment on July 31, 2024, through an Extra Ordinary General Meeting.

For the financial year 2025, DyStar contributed total income of ₹309.73 crore (as share of profit of associates) and a net worth of ₹2,414.71 crore based on Kiri Industries' 37.57% stake. The expected date of completion for the sale was December 31, 2025. Zhejiang Longsheng Group Co., Ltd., the purchaser, is a listed company in the People's Republic of China and does not belong to Kiri Industries' promoter group or group companies. The transaction is not considered a related party transaction and is outside the Scheme of Arrangement.