KDDL’s wholly owned subsidiary -- Mahen Distribution (MDL) has sold 6,00,181 equity shares of Rs 10 each of Ethos (material subsidiary of the company) through open market and post this sale of shares, consolidated shareholding of KDDL (directly and indirectly through its subsidiary, MDL) in Ethos has reduced from 52.90% to 50.45% on a fully diluted basis. The consideration received from such sale is Rs 195.25 crore.
KDDL engages in the manufacture and trade of watches and its components in India, Switzerland, and Hong Kong.
