Kothari Industrial Corporation Boosts Stake in Phoenix Kothari Footwear Private Limited
Kothari Industrial Corporation Limited (KICL) has significantly increased its investment stake in Phoenix Kothari Footwear Private Limited (PKFPL) following the allotment of 2,70,00,000 equity shares. The share allotment was completed on April 15, 2026, subsequent to approval from the company's Board of Directors for further investment in PKFPL.With this transaction, KICL's shareholding in Phoenix Kothari Footwear Private Limited now stands at 30%.
The move represents a strategic strengthening of KICL's presence in the footwear sector, as the business of PKFPL aligns directly with and falls within the company's core line of business. The purpose of the investment is noted as undertaking to strengthen the company's footprint in the footwear business operations.
The investment was executed using cash consideration. Details regarding the acquisition are summarized below:
| Detail | Value |
|---|---|
| Company Allotted Shares | 2,70,00,000 equity shares |
| Consideration Type | Cash Consideration |
| Price Per Share | Rs 10/- |
| Acquired Stake | KICL holds 30% of equity share in Phoenix Kothari Footwear Private Limited |
| Target Company Business | Manufacturing footwear |
| Industry | Footwear Industry |
Regarding the financial standing of the acquired entity, PKFPL's turnover for the past three financial years was reported as follows:
| Financial Year | Turnover |
|---|---|
| FY 2024-25 | Nil |
| FY 2023-24 | Nil |
| FY 2022-23 | Nil |
The acquisition is stated to be in line with KICL's long-term growth strategy, as the business of PKFPL falls within the core line of KICL's business operations. Furthermore, the transaction is noted to be carried out at arm's length.
Stock Price Movement
Kothari Industrial Corporation Ltd closed today at ₹171.80, ticking up 0.32% or ₹0.55. The shares had spent the session moving across a wide intraday range, dipping to ₹165.10 before hitting a high of ₹177.40.Source:
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