KOTIC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kothari Industrial Corporation Ltd has filed its 55th AGM notice and Annual Report for FY 2024-25 with BSE. The AGM is scheduled for September 26, 2025, at 11:00 a.m. via video conferencing. Key business items include adoption of FY25 audited financials, re-appointment of Mr. Rafiq Ahmed as Executive Chairman & MD for 3 years (with a proposed salary of Rs. 27.5 lakh per month), appointment of a new Secretarial Auditor for 5 years, and alteration of the Object Clause to add nine new business areas including waste management, logistics, steel, battery manufacturing, advertising, FMCG, restaurants, power generation, and paper/packaging. Shareholders will also consider a preferential issue of 17,11,068 equity shares at Rs. 207 per share (aggregating Rs. 35.42 crore) to non-promoters, and approval for a material related party transaction to invest up to Rs. 200 crore in Phoenix Kothari Footwear Limited. The company has not declared any dividend since 1995.
The preferential allotment at Rs. 207 per share (a significant premium to face value of Rs. 5) and the large Rs. 200 crore related-party investment in Phoenix Kothari Footwear could be material for existing shareholders, with potential dilution of around 17 lakh shares. The major expansion of business objects signals a strategic pivot into diverse new sectors like energy, batteries, FMCG, and waste management.