KDDL Limited and its wholly owned subsidiary Mahen Distribution Limited (MDL) have acquired additional equity shares of Ethos Limited, a material subsidiary, by subscribing to its rights issue.
In a regulatory filing dated July 8, 2025, KDDL informed that it and MDL have together maintained their consolidated holding in Ethos at 50.12%, even after the rights issue.
Key details of the acquisition:
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KDDL Limited acquired 11,058 equity shares (0.04%) at ₹1,800 per share.
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Mahen Distribution Limited acquired 11,30,199 equity shares (4.22%) at ₹1,800 per share.
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Total consideration was paid in cash through ASBA.
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The allotment was completed on July 7, 2025.
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The acquisition was made to fund Ethos’ working capital requirements and for general corporate purposes.
About Ethos Limited:
Ethos is India’s largest retailer of premium and luxury watches, with over 70 stores representing more than 70 luxury watch brands.
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Paid-up equity share capital: ₹26.76 crore (post allotment).
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Turnover (₹ in lakhs):
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FY25: ₹1,25,162.71
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FY24: ₹99,792.59
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FY23: ₹78,853.37
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Ethos was incorporated as Kamla Retail Limited in November 2007 and renamed to Ethos Limited in March 2012.