Kothari Industrial seeks reclassification for former promoters to public category

Kothari Industrial Corporation Limited informed the Bombay Stock Exchange on November 28, 2025, of a request to reclassify certain entities and individuals from the "Promoter" and "Promoter Group" categories to the "Public" category. This move is in accordance with Regulation 31A (8)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The application for reclassification includes M/s. Saloman Investment Limited, Pradip D Kothari (on behalf of Saloman Investment Limited), Asha Thayer, and Mohan Das. Saloman Investment Limited, a former promoter, has been wound up and no longer holds dematerialized shares, indicating its intent to transition to the public category.

The individuals and the company seeking reclassification have provided undertakings confirming they meet the specified conditions, including not holding more than ten percent of total voting rights, not exercising control over the company's affairs, and having no special rights. They also confirmed no pending regulatory action and will comply with conditions for a minimum of three years to maintain their public classification.