KOTIC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The board of Kothari Industrial Corporation approved the 'KICL Employee Stock Option Scheme 2025', allowing grants of up to 46,86,000 equity shares to eligible employees, with exercise prices ranging from Rs.40 to Rs.60 depending on years of service. The board also approved a preferential allotment of 1,36,37,600 equity shares at Rs.72.60 per share (including a Rs.67.60 premium), aggregating to approximately Rs.99 crores, to promoter Rafiq Ahmed and several non-promoter allottees. Post-allotment, promoter Rafiq Ahmed's holding will increase to about 45.09%. Both proposals are subject to shareholder approval at the EGM scheduled for June 13, 2025.
The preferential issue will dilute existing shareholders by introducing about Rs.99 crores of new capital at a premium, while the ESOP scheme may cause further dilution over time. The significant promoter participation signals promoter confidence but existing shareholders should watch for dilution impact on earnings per share.