Kothari Industrial Corporation: Updates on Open Offer

Kunvarji Finstock Private Limited ("Manager to the Offer") has submitted to BSE a copy of Recommendation of the Independent Director Committee ("IDC") of Kothari Industrial Corporation Ltd ("Target Company") in relation to the Open Offer ("Offer") under Regulations 26(7) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 and Subsequent amendments thereto ("SEBI (SAST) Regulations 2011").