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Business Standard
4 minutes ago
- Business Standard
KICL forays into value footwear market with Zodiz and Jeetlo acquisition
Chennai-based Kothari Industrial Corporation (KICL), a part of the D C Kothari group, has acquired Zodiz, Jeetlo, and other associated sub-brands in the footwear field. These brands cater to the price- and quality-conscious mass market, offering products below Rs 1,000 per pair — a segment that accounts for nearly 80 per cent of total Indian footwear consumption, valued at Rs 80,000 crore to Rs 85,000 crore annually. This is KICL's official entry into the branded value footwear and accessories segment, marking a significant milestone in its growth journey in the footwear sector. "We are pleased to confirm the successful acquisition of the Zodiz, Jeetlo, and other associated sub-brands, effective 4 August 2025. This acquisition gives KICL an immediate foothold in one of the fastest-growing and underserved consumer segments," said Jinnah Rafiq Ahmed, Executive Chairman, KICL. This comes at a time when India's footwear industry is witnessing rapid shifts in consumer preferences. Footwear is no longer viewed purely as a utility — it has evolved into a symbol of personal style and self-expression, the company said. "This entry in the value segment is significant, given the fact that Indian footwear consumption is slated to grow and is evolving from a utility to self-expression for young, discerning consumers," said N Mohan, Director of the company. "Key differentiators will be fashion-relevant, comfort-first, and price-accessible products aimed at Tier 2 and Tier 3 consumers, the emerging urban centres," he added. With per capita consumption at 1.9 pairs per annum and expected to double by 2030, the opportunity for value-driven, fashion-apt products is immense in India. The Government of India's continued focus on this sector further reinforces the timing and relevance of entry, a statement said. "Our business strategy will be distribution-led, targeting Tier 2 and Tier 3 cities — India's emerging urban hubs where the appetite for affordable fashion is on the rise," said Ahmed. "We aim to deliver products that are style-relevant, aligned with evolving fashion sensibilities, comfortable, and affordable. Our extensive distribution network will be instrumental in scaling reach and building long-term value across the ecosystem," he added. "With a strong team, deep market understanding, and robust infrastructure, KICL is well-positioned to capture this opportunity. We view this move not just as an acquisition, but as the beginning of a new chapter — one that will unlock value for consumers, partners, and stakeholders alike," Ahmed said. "We are excited to embark on this journey at a time when the Indian footwear market is undergoing a profound transformation. Our goal is to serve the rising aspirations of young Indian consumers while creating lasting stakeholder value," he said.
Time of India
4 minutes ago
- Time of India
Meghalaya initiates land acquisition process for ₹23,000 crore Shillong-Silchar high-speed corridor
Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. The Meghalaya government has initiated the land acquisition process for the construction of the Rs 22,864-crore high-speed corridor from Umiam Lake near Shillong to Silchar in lower Assam, officials said on greenfield four-lane highway, which will pass through the Ri-Bhoi district , will be built by the National Highways and Infrastructure Development Corporation Limited (NHIDCL), they a notification, Ri-Bhoi's Deputy Commissioner Abhilash Baranwal asked villagers not to undertake any new construction or development activity within the designated area of the proposed corridor without prior permission from his office."It is hereby clearly stated that any unauthorised structures, whether temporary or permanent, erected within the proposed alignment after the issuance of this notice will not be considered eligible for any compensation at the time of land acquisition or project implementation," it villages have been identified for land acquisition. Among them are Pyllun, Umeit, Umroi Labansaro, Nongrah, Nonglakhia, Wahmyntait, and Lumsohphoh, officials 166.80-km corridor will begin at Mawlyngkhung near Shillong and end at Panchgram near Silchar. While 144.80 km of the route is in Meghalaya, 22 km is in Assam, they project is aimed at boosting connectivity and economic development in the region.
The Hindu
4 minutes ago
- The Hindu
Highway Infrastructure IPO fully subscribed within hours of opening for bidding
The initial public offer of Highway Infrastructure Ltd got fully subscribed within hours of opening for bidding on Tuesday (August 5, 2025). The three-day initial share sale received bids for 11,97,90,186 shares against 1,60,43,046 shares on offer, translating into 7.47 times subscription, according to data available with the NSE till 11:45 hours. Retail Individual Investors (RIIs) part fetched 9.63 times subscription while the quota for non-institutional investors got subscribed 7.14 times. The Qualified Institutional Buyers (QIBs) portion received 90% subscription. Highway Infrastructure Ltd. on Monday (August 4, 2025) said it had raised ₹23.40 crore from the anchor investors, including HDFC Bank and Abans Finance Pvt. Ltd. The ₹130-crore Initial Public Offering (IPO) will conclude on Thursday (August 7, 2025). The price band has been fixed at ₹65-70 per share. The IPO is a mix of fresh issue of 1.39 crore shares aggregating to ₹97.52 crore and an offer for sale of 46.4 lakh shares amounting to ₹32.48 crore. Proceeds from the fresh issue to the tune of ₹65 crore will be utilised to fund the working capital requirements of the company and the balance for general corporate purposes. Incorporated in 1995, Highway Infrastructure Ltd (HIL), is engaged in tollway collection, EPC (Engineering, Procurement, and Construction) projects, and real estate development. The Indore-based company specialises in the construction and maintenance of roads, highways, bridges, and residential projects. The company's total income stood at Rs 504.48 crore and profit after tax of Rs 22.40 crore. The company's shares will be listed on the BSE and NSE. Pantomath Capital Advisors is the sole book-running lead manager, while Bigshare Services is the registrar for the IPO.
