KDDL Limited has informed the Exchange about Acquisition
KDDL · price
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KDDL Limited, along with its wholly owned subsidiary Mahen Distribution Limited (MDL), has acquired additional equity shares of Ethos Limited, its material subsidiary, by subscribing to a Rights Issue. KDDL directly picked up 11,058 shares (0.04%) and MDL acquired 11,30,199 shares (4.22%) at an issue price of ₹1,800 per share, with the total cash consideration paid through ASBA. After this allotment, KDDL's consolidated holding in Ethos remains unchanged at 50.12% on a fully diluted basis. Ethos Limited is India's largest premium and luxury watch retailer with 70+ stores, 70+ brands, and a turnover of ₹1,25,162.71 lakhs in FY25. The purpose of the rights issue proceeds is to fund working capital and general corporate purposes.
This is a routine rights-issue subscription that consolidates KDDL's existing position in Ethos without changing overall control, so there is no material change in ownership structure. The ₹1,800 per share price sets a near-term valuation reference for Ethos shares on the exchanges.