Aqusition
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 (KICL) has approved setting up a new subsidiary named 'Kothari TUAD Private Limited' through a joint venture with Italian academy Accademia TUAD. The new company will have an authorized capital of Rs 10 crore and initial paid-up capital of Rs 5 crore. KICL will hold 51% (subscribing Rs 2.55 crore for 25.5 lakh shares), while TUAD will hold 49%, with KICL nominating 3 of the 5 directors including the permanent chairman. The JV aims to set up an international Footwear Design & Technology educational institution in India, combining TUAD's design expertise with KICL's industry and infrastructure. The investment is classified as a related party transaction (subsidiary), done at arm's length pricing.
This is a strategic diversification into footwear design education, complementing KICL's existing footwear business. The Rs 2.55 crore investment is relatively small and unlikely to move the stock materially, but it opens a new revenue stream tied to international design expertise and education services.