KDDL’s arm raises funds for business expansion

KDDL’s subsidiary - Ethos, India’s largest retailer of luxury watches, has raised funds by way of issue of equity shares on preferential allotment basis, totaling to Rs 2.99 crore from KDDL, being the promoter. The aforesaid funds 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 increase from 71.59% to 72.01%.

KDDL, formerly known as Kamla Dials and Devices, established in 1988 is a diverse company focusing on the business of Watches and Precision Engineering.