Kothari Industrial Corporation has received approval to acquire 30% stake in Phoenix Kothari Footwear. Phoenix Kothari Footwear is engaged in the business of manufacturing of footwear in Chennai, Tamil Nadu, India.
Further, the company has also received approval for acquisition of Sole Proprietor -Parveen Roadways by way of Slump Sale. Parveen Roadways, a sole proprietorship founded in 1994, operates in the logistics and transportation sector, focusing on the railway industry. After the acquisition, the company will be operating in the logistics and transportation sector, focusing on the railway industry, which will increase the turnover and profit of the company. The said acquisition will be completed within a period of two months from the date of shareholders approval.
The Board of Directors in their meeting held on February 19, 2025 has considered and approved the same.
Kothari Industrial Corporation is mainly engaged in manufacturing and trading of fertilizers.
