Home / BUSINESS / KDDL to invest up to Rs 20 crore in equity shares of Ethos

KDDL to invest up to Rs 20 crore in equity shares of Ethos

KDDL has received an approval for the investment up to Rs 20 crore in the Equity Shares of Ethos, a subsidiary of the Company by way of Preferential Allotment at a price of Rs 292 per share including a premium of Rs 282 per share (Face value of Rs 10 each). Post above investment, the consolidated shareholding of KDDL (directly and indirectly through its subsidiary, Mahen Distribution) in Ethos will be increased from 72.26% to 73.31%.

The Board of Directors of the company at its meeting held on November 03, 2018, approved the same.

The Board has also given approval for the investment up to CHF 1 million (around Rs 7.1 crore) by way of Equity Shares in Kamla International Holdings SA, a wholly owned subsidiary of the Company.

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.

Please share this news