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Kiri Industries Limited has received the full consideration of US$689.03 million (₹5,733 crore) following the sale of its entire 37.57% stake in DyStar Global Holdings (Singapore) Pte. Ltd. This transaction marks the successful conclusion of a decade-long legal dispute before the Singapore Courts. The amount received encompasses purchase consideration, share buyback proceeds, interest, and costs awarded by the Singapore International Commercial Court. Consequently, DyStar is no longer an associate company of Kiri Industries Limited.

The legal proceedings were initiated by Kiri Industries in 2015 to protect its rights as a minority shareholder. Over nearly ten years, the case involved multiple stages of litigation and appeals, which confirmed minority oppression against Kiri Industries. This led to a court-directed valuation, an award of interest, recovery of costs, and an order for the en bloc sale of DyStar. During this period, the company incurred substantial legal expenses, a portion of which has been awarded for recovery.

Mr. Manish Kiri, Chairman and Managing Director, stated, “This marks the successful conclusion of a long and complex legal journey that began in 2015. While the process required significant time and legal expenditure, our priority throughout was to safeguard shareholder interests and secure a fair economic outcome. With the full proceeds now received, the Company is well positioned to strengthen its balance sheet and deploy capital prudently towards future growth opportunities.”

The resolution of the DyStar matter is expected to significantly reduce ongoing legal expenses, allowing management to focus on Kiri Industries Limited's core businesses, diversification initiatives, and long-term growth strategy, thereby strengthening the company's commitment to sustainable value creation for all stakeholders.