Ethos raises Rs 11.99 crore

By way of preferential allotment of equity shares

KDDL announced that the Company's Material Subsidiary, Ethos, India's largest retailer of luxury watches, has raised funds amounting to Rs 11.99 crore 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 50% amount is expected to be received by 5 December, 2018.

Post the above allotment, consolidated shareholding of KDDL (directly and indirectly through its subsidiary, Mahon Distribution) in Ethos has decreased from 75.86 % to 72.26 % on fully diluted basis

 

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