KDDL’s subsidiary- Ethos has raised funds by way of preferential allotment of 496,453 equity shares of Rs 10 each at a premium of Rs 131 per share (as per valuation report obtained from the registered valuer) totalling to Rs 7 crore to the company, being the promoter.
Post subscription and allotment, consolidated holding of KDDL, directly and indirectly through its' 100% subsidiary, Mahen Distribution, in Ethos will increase from 73.60% to 74.45% on fully diluted basis.
KDDL is a diverse company focusing on luxury Retail Watches and precision Engineering. It has established India’s largest retail chain for premium and luxury watches- Ethos and SUMMIT.
