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KICL board clears preferential issue

The board of Kothari Industrial Corporation Ltd. at its meeting in Chennai a few days ago (KICL) approved the issue of 17,11,068 equity shares of face value of Rs. 5 each at a price of Rs. 207 per equity share to non-promoters.

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The board also re-appointed Rafiq Ahmed as the Executive Chairman and Managing Director of the company for a further period of three years with effect from 28th September 2025.  The reappointment of Rafiq Ahmed is subject to the approval of the shareholders at the ensuing annual general meeting.

Shares of KICL closed Thursday at 535.75 on BSE.

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