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 has filed a revised outcome of its 29 November 2025 board meeting, correcting an earlier statement. Originally, the company had said shareholder approval was not needed for re-classifying certain individuals from the 'Promoter and Promoter Group' category to the 'Public' category. The revised submission clarifies that shareholder approval is in fact required because Ms. Asha Thayer, one of the persons seeking re-classification, is related to existing promoter Mr. Pradip D. Kothari, and their combined shareholding exceeds 1% of the company's total voting rights. Under SEBI LODR Regulation 31A(3)(a), this triggers a mandatory shareholder vote. The board has approved the re-classification request, subject to shareholder, stock exchange, and other necessary approvals.
If approved, this re-classification would reduce the promoter group shareholding and increase the public shareholding of the company. Shareholders will need to vote on the proposal, and until approvals come through, the re-classification is not effective.