Revised outcome
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 board meeting held on 29 November 2025. The correction relates to the re-classification of certain persons from the 'Promoter and Promoter Group' category to the 'Public' category under SEBI's Regulation 31A. The earlier filing incorrectly stated that shareholders' approval was not needed; the revised filing confirms that shareholder approval is mandatory because Ms. Asha Thayer, one of the persons being re-classified, is related to existing promoter Mr. Pradip D. Kothari. Their combined shareholding equals 1% of total voting rights, which is not below the 1% threshold that would have exempted the re-classification from shareholder vote. The Board has approved the re-classification, subject to shareholder, stock exchange, and other approvals.
This is a procedural correction and not a new corporate action — the substance of the re-classification request is unchanged. However, the re-classification, once approved, will shift about 1% of shareholding from the promoter group to the public category, marginally reducing the promoter group's declared holding. Investors should watch for the postal ballot / EGM outcome and stock exchange approval, but no immediate impact on share price is expected from the correction itself.