Kothari Industrial Corporation Ltd — Important, 29-11-2025: Company Update

Kothari Industrial Corporation Limited's board has approved the acquisition of an additional 3,99,00,000 equity shares in Phoenix Kothari Footwear Limited at Rs. 10 per share, totaling Rs. 39.90 Cr in cash. This strategic move will result in KICL holding 30% of Phoenix Kothari Footwear Limited. The acquisition aims to strengthen KICL's presence in the footwear segment and expand its product portfolio and market reach, aligning with its long-term growth strategy. While a related party transaction, it was conducted at arm's length.