Kewal Kiran Clothing raises Rs 80.6cr

Kewal Kiran Clothing, a Mumbai-based textile manufacturer, has raised Rs 80.60 crore to expand its manufacturing facilities. The proceeds would be utilised for capital expenditure in setting up new manufacturing facilities, expansion of the distribution network by opening additional exclusive outlets and building the corporate office, the company said in a communication to the stock exchanges.

The funds were raised by issuing 3,100,037 equity shares of Rs 10 each at a premium of Rs 250 per share.