KOTIC · price
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Awaiting price reaction for this filing.
Kothari Industrial Corporation has signed a non-binding MoU on January 31, 2026, with Spain-based RED21 S.L. (licence holder of Icad software) and its Indian agent CMI to jointly develop Footwear Development Coaching and Training Programs using Icad technology. Under the arrangement, Kothari will provide infrastructure, training facilities, administrative support, and coordinate with government schemes, while RED21/CMI will supply software licenses, trainer training, curriculum support, and academic supervision. Revenue will be shared in a 60:40 ratio between Kothari and RED21. The MoU is valid for three months or until a definitive binding agreement is executed, with further disclosures to follow under SEBI LODR Regulations.
This represents a small diversification move into footwear industry training rather than a core business expansion, and being a non-binding, short-term MoU, it is unlikely to materially affect the stock price in the near term. Shareholders should monitor for the subsequent binding agreement that will clarify the scale and long-term commitment.