Kothari Industrial Corporation Secures Investment from Qatar Group.

Chennai-based Kothari Industrial Corporation Ltd (KICL) has revealed that FJ Global and Investment, a Qatar-based company linked to the Royal family, will acquire nearly 10% of its shares. Owned by Falah Jassim J.M. AL-Thani, FJ Global will purchase 7,056,000 shares at ₹25 each, with a face value of ₹5 per share.

KICL’s promoter, Rafiq Ahmed, plans to increase his investment to retain his 47% stake in the company, according to a statement from KICL.

The company’s board has also approved the formation of a joint venture in Qatar, where KICL will hold a 70% stake, and AL-Thani will own 30%. The venture aims to explore growth opportunities and expand KICL’s international presence. Details of the joint venture are currently being finalised.

To support its expansion plans, the board has proposed increasing KICL’s authorised share capital to ₹75 crore from the existing ₹25 crore, pending shareholder approval.

In a separate development, KICL is working towards acquiring Ahmed’s 30% stake in Phoenix Kothari Footwear Ltd. This subsidiary is establishing a non-leather footwear park in Perambalur, Tamil Nadu, with its first plant already operational.

These strategic initiatives mark a significant step in KICL’s efforts to strengthen its market position and expand its global footprint.

HBL