Kothari Industrial Corporation Limited (KICL) has taken a significant step to bolster its financial position by approving a preferential issue of equity shares to non-promoters. The move, which aims to raise approximately ₹35.4 crore, comes as part of the company's strategic financial planning.

Key Details of the Share Issue

• Number of Shares: 17,11,068 equity shares
• Face Value: ₹5.00 per share
• Issue Price: ₹207.00 per share (including a premium of ₹202.00)
• Total Fundraising: ₹35,41,91,076

The decision was made during a board meeting held on August 26, where the directors approved the issuance of these shares on a preferential basis to non-promoters. This move is in accordance with the provisions of SEBI (Issue of Capital and Disclosures Requirements) Regulations, 2018, as amended.

Investor Allocation

The preferential issue will be distributed among 24 non-promoter investors. Some of the notable allocations include:

Regulatory Compliance and Next Steps

The company has approved the draft notice to shareholders for seeking approval for the proposed preferential issue. This move aligns with KICL's commitment to transparency and regulatory compliance.

The board meeting, which commenced at 4:30 PM and concluded at 7:00 PM, also saw the approval of other related matters concerning the share issuance.

Management Changes

In a separate development, the Board of Directors has re-appointed Mr. Rafiq Ahmed as the Executive Chairman and Managing Director of the company for a further period of three years, effective from September 28. This appointment is subject to shareholder approval at the upcoming 55th Annual General Meeting.

Mr. Ahmed, who joined the company in 2017, brings extensive experience in the fertilizers business and has been instrumental in shaping KICL's vision for global expansion across various ventures.

This preferential share issue and management reappointment reflect Kothari Industrial Corporation's proactive approach to strengthening its financial position and leadership structure as it looks towards future growth and expansion.

Kothari Industrial Corporation Limited has announced a crucial board meeting scheduled for August 26, 2025, where the company will consider equity fundraising options, among other important matters.

Key Points of the Board Meeting

The board meeting, set to take place at 4:30 p.m. at the company's registered office, will address several significant agenda items:

Preferential Issue of Equity Shares

The board will consider and potentially approve the issuance of equity shares through a preferential allotment. This decision will be made in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. Any approval will be subject to shareholder consent and necessary regulatory approvals.

Annual General Meeting Arrangements

The board will determine the day, date, and time for conducting the Annual General Meeting (AGM) of the company through video conferencing or other audio-visual means (VC/OAVM). They will also approve the notice to be sent to shareholders regarding the AGM.

Additional Business Matters

The board will consider any other business that may be placed before it with the Chairman's permission.

Trading Window Closure

In compliance with regulatory requirements, Kothari Industrial has also announced the closure of the trading window for insiders. Key details include:

• Closure Period: The trading window will be closed from August 20, 2025, until 48 hours after the conclusion of the board meeting.
• Affected Parties: This closure applies to all connected persons, officers, designated employees, insiders, directors of the company, and their immediate relatives.
• Regulatory Basis: The closure is in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's Code of Conduct for Prevention of Insider Trading.

This board meeting marks a significant event for Kothari Industrial as it explores potential avenues for raising capital through equity. The outcome of this meeting could have important implications for the company's financial structure and future growth strategies.

Investors and stakeholders are advised to await the official outcome of the board meeting for further details on the proposed equity fundraising and other key decisions.