Kothari Industrial Corporation Limited has completed a significant investment in Phoenix Kothari Footwear Private Limited, acquiring a 30% stake through a cash transaction worth ₹27 crore. The investment was formalized through the allotment of 2.70 crore equity shares on April 15, 2026.

Investment Details

The acquisition represents a strategic move to strengthen the company's footprint in the footwear manufacturing sector. The shares were allotted at ₹10 per share, bringing the total investment value to ₹27 crore.

Strategic Rationale

The acquisition aligns with Kothari Industrial Corporation's long-term growth strategy and core business operations. Phoenix Kothari Footwear Private Limited operates in the footwear manufacturing sector, which is synergistic with the company's existing business portfolio. The investment aims to:

• Strengthen presence in the footwear segment
• Expand product portfolio and market reach
• Support core business line operations
• Enhance manufacturing capabilities in allied activities

Related Party Transaction

The investment qualifies as a related party transaction due to the involvement of promoter Mr. Rafiq J Ahmed, who serves as Chairman and Managing Director of Kothari Industrial Corporation and holds directorship in Phoenix Kothari Footwear Private Limited. Despite this connection, the company has confirmed that the transaction was conducted at arm's length pricing.

Target Company Profile

Phoenix Kothari Footwear Private Limited is engaged in footwear manufacturing and allied activities, operating from Chennai, Tamil Nadu. The company reported nil turnover for the financial years 2022-23, 2023-24, and 2024-25, indicating it is in the early stages of operations or development phase.

Regulatory Compliance

The transaction was completed in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No additional governmental or regulatory approvals were required for this acquisition. The investment was approved by the Board of Directors of Kothari Industrial Corporation Limited prior to the share allotment.

Kothari Industrial Corporation Limited has filed its quarterly compliance certificate with BSE Limited for the quarter ended March 31, 2026. The submission, made on April 15, 2026, fulfills the requirements under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Compliance Certificate Details

The compliance certificate was issued by Integrated Registry Management Services Private Limited, which serves as the Registrar and Transfer Agent (RTA) for Kothari Industrial Corporation. The certificate, dated April 3, 2026, confirms the company's adherence to SEBI regulations regarding depositories and participants for the fourth quarter of fiscal year 2026.

Regulatory Compliance Confirmation

The certificate confirms that securities received from Depository Participants for dematerialisation during the quarter were properly processed according to regulatory requirements. Integrated Registry Management Services confirmed that all securities received for dematerialisation were either accepted or rejected to the depositories, and that these securities have been listed on stock exchanges.

The RTA also verified that security certificates received for dematerialisation were mutilated and cancelled after due verification by the depository participant. Additionally, the names of the depositories were substituted in the register of members as registered owners within the stipulated 15-day period.

Company and RTA Information

The submission was signed by Anil Kumar Padhiali, Company Secretary and Compliance Officer of Kothari Industrial Corporation Limited. The company is incorporated under CIN L81100TN1970PLC005865 and is headquartered at Kothari Building, Mahatma Gandhi Salai, Nungambakkam, Chennai.

Integrated Registry Management Services Private Limited, the issuing RTA, is located at Kences Towers, North Usman Road, T Nagar, Chennai, and operates under CIN U74900TN2015PTC101466. The certificate was signed by Yuvaraj S, General Manager of the registry services company.