KDDL’s subsidiary - Ethos, India’s largest retailer of luxury watches, has raised funds by way of issue of Compulsory Convertible Cumulative Preference Shares (CCCPS) on preferential allotment basis after complying with the provisions of Companies Act, 2013, totaling to Rs 7.25 crore from various investors. Also, KDDL has subscribed to the CCCPS to the tune of Rs 0.25 crore. The total funds of Rs 7.50 crore raised by Ethos will be utilized for expansion of its business.
The equity shareholding of KDDL, directly and through its 100% subsidiary, in Ethos on conversion of the CCCPS on fully diluted basis will go down from 73.28% to 70.24%.
KDDL, formerly known as Kamla Dials and Devices, established in 1988 is a diverse company focusing on the business of Watches and Precision Engineering.
| Company Name | CMP |
|---|---|
| Timex Group India | 322.70 |
| KDDL | 2413.30 |
| Luxury Time | 67.50 |
| M&I Watches | |
| Sonam | |
| View more.. | |
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