Kothari Industrial Corporation Ltd Acquires Assets from Zaimus Trends Private Limited for Rs. 70 Lakhs

Kothari Industrial Corporation Limited (KICL) has entered into an Asset Purchase Agreement with M/s Zaimus Trends Private Limited (ZTPL) to acquire certain assets. The total consideration for the acquisition is Rs. 70,00,000. The acquisition is not a related party transaction and does not require any governmental or regulatory approvals. The acquisition is expected to enhance KICL’s trading, manufacturing, and operational capabilities in the footwear production division, aligning with its goal of expanding market share in the affordable footwear segment. The acquisition is expected to be completed within ten days after the Execution Date. ZTPL is engaged in sourcing, manufacturing, distribution (wholesale and retail), and branding of footwear products under brands like ‘Jeetlo’, ‘Zodiz’ & ‘Zodiz Kidoz’. The company was incorporated on 19.04.2021 and has a significant presence in India. The last three years turnover of ZTPL is Rs. 55,19,93,160.66 for FY 2022-23, Rs. 54,20,69,449.46 for FY 2023-2024, and Rs. 24,26,24,134.70 for FY 2024-25.