Kothari Industrial Corporation Limited has successfully obtained listing approval from BSE Limited for equity shares issued on a preferential basis to non-promoters. The approval, dated January 09, 2026, marks a significant milestone in the company's capital raising initiative.

Share Issue Details

The BSE has approved the listing of 11,31,068 equity shares with specific parameters outlined in the approval documentation:

The preferential issue represents a substantial capital infusion for Kothari Industrial Corporation Limited, with the shares being allocated exclusively to non-promoter investors.

Regulatory Compliance Requirements

The BSE approval comes with specific compliance obligations that the company must fulfill. The exchange has mandated adherence to Regulation 167 of SEBI (ICDR) Regulations and other specifications as determined by SEBI from time to time.

Additionally, if the share issue results in a change exceeding two percent of the total paid-up share capital, the company must file its shareholding pattern in XBRL mode as required under Regulation 31(1)(c) of SEBI LODR Regulations, 2015.

Trading Approval Process

While listing approval has been granted, trading approval requires additional documentation. The company must submit the following to BSE before trading can commence:

• Listing approval from National Stock Exchange of India Ltd. (if applicable)
• Confirmation letters from NSDL/CDSL regarding crediting shares to beneficiary accounts
• Confirmation letters from NSDL/CDSL about lock-in of pre-preferential holding (if applicable)

Timeline and Penalties

According to SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, listed entities must apply for trading approval within seven working days from the date of listing approval grant. The company received listing approval on January 09, 2026, establishing a clear timeline for compliance.

Non-compliance with this seven-day requirement will attract penalties as specified in the aforementioned SEBI circular, emphasizing the importance of timely submission of required documentation.

Corporate Communication

The company formally communicated this development to BSE Limited on January 10, 2026, through its Company Secretary and Compliance Officer, Anil Kumar Padhiali. The communication was made pursuant to Regulation 30 of SEBI Listing Regulations, ensuring proper disclosure of material information to the exchange and stakeholders.

Kothari Industrial Corporation Limited has issued a revised outcome of its board meeting held on November 29, 2025, correcting a crucial detail regarding the reclassification of certain individuals from the Promoter and Promoter Group category to the Public category.

Key Correction

The company has amended its earlier statement, now clarifying that shareholder approval is indeed required for the proposed reclassification. This correction is in line with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

Reason for Shareholder Approval

The necessity for shareholder approval stems from the following factors:

1. Ms. Asha Thayer, one of the individuals seeking reclassification, is related to an existing promoter, Mr. Pradip D. Kothari.
2. The combined shareholding of Ms. Asha Thayer and Mr. Pradip D. Kothari equals 41.00% of the total voting rights of the company.

Regulatory Context

According to the proviso to Regulation 31A(3)(a) of the SEBI (LODR) Regulations, 2015, shareholder approval becomes mandatory when:

• The person seeking reclassification and persons related to the promoter(s) seeking reclassification have a combined shareholding of not less than 1.00% of the total voting rights in the listed entity.

Reclassification Approval Process

The Board of Directors has granted its approval for the reclassification request, subject to the following conditions:

1. Shareholders' approval
2. Stock Exchange approval
3. Other necessary approvals, if any

Implications

This correction highlights the importance of accurate regulatory compliance and transparent communication with stakeholders. It ensures that the company adheres to SEBI regulations and maintains proper corporate governance practices.

Conclusion

Kothari Industrial Corporation's prompt correction of its board meeting outcome demonstrates its commitment to regulatory compliance and transparent disclosure. Shareholders and investors should take note of this development, as it will require their participation in the approval process for the proposed reclassification of promoter shareholding.