KDDL’s Material Subsidiary -- Ethos has raised funds amounting to Rs 11,99,99,890, by way of preferential allotment of 821,917 party paid up equity shares of Rs 10 each at a premium of Rs 282 per share to non- promoter group. The balance fifty percent amount is expected to be received by December 05, 2018.
Post the above allotment, consolidated shareholding of KDDL (directly and indirectly through its subsidiary, Mahen Distribution) in Ethos has decreased from 75.86% to 72.26% 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.
