Investment29 Nov 2025, 02:30 pm
Kothari Industrial Corporation Ltd. to Acquire 30% Stake in Phoenix Kothari Footwear Limited for Rs. 39,90,00,000
AI Summary
Kothari Industrial Corporation Ltd. (KICL) has approved the further acquisition of 3,99,00,000 equity shares of Phoenix Kothari Footwear Limited at a price of Rs. 10/- per share, amounting to Rs. 39,90,00,000. This acquisition will result in KICL holding 30% of the equity shares in Phoenix Kothari Footwear Limited. The acquisition is aimed at strengthening KICL's presence in the footwear segment, expanding its product portfolio and market reach. Phoenix Kothari Footwear Limited is a public company incorporated on 08.12.2022, engaged in the business of manufacturing of footwear in Chennai, Tamil Nadu, India. It has a turnover of Nil in the FY 24-25, Nitin in the FY 2023-24, and Nil in the FY 22-23.
Key Highlights
- KICL to acquire 30% stake in Phoenix Kothari Footwear Limited for Rs. 39,90,00,000
- Phoenix Kothari Footwear Limited is engaged in the business of footwear manufacturing
- The acquisition is aimed at strengthening KICL's presence in the footwear segment
- Phoenix Kothari Footwear Limited has a turnover of Nil in the FY 24-25
- The transaction is being carried out at arm’s length