KDDL increases stake in subsidiary Ethos Limited

KDDL Limited announced today that it, along with its wholly-owned subsidiary, Mahen Distribution Limited (MDL), has acquired additional equity shares of Ethos Limited, a material subsidiary focused on premium and luxury watches. The acquisition was executed through subscription to a Rights Issue. KDDL Limited acquired 11,058 shares (0.04%) with a face value of INR10 each, while MDL acquired 1,130,199 shares (4.22%) also with a face value of INR10 each. The shares were acquired at a price of INR1800 per share. Post-acquisition, KDDL's consolidated shareholding in Ethos Limited remains unchanged at 50.12% on a fully diluted basis. Ethos Limited is described as the largest retailer of premium and luxury watches in India, with over 70 stores and an extensive network of premium watch brands. For the financial year 2024-25, Ethos Limited reported a turnover of INR1,25,162.71 lakhs.