After the aforesaid allotment, the shareholding of KDDL in Ethos is 76.61% (directly and indirectly).

The Board also considered and recommended raising of capital through an Initial Public Offering of the Company for an amount not exceeding Rs. 500 crore from Fresh Issue of capital, at a price to be determined in consultation with the book running lead managers. The proposed Initial Public Offering may also include an offer for sale by the existing shareholders of the Company. The Board has resolved to convene an Extraordinary General meeting of the Shareholders of the Company on 30 December, 2021 for seeking their necessary approval for the proposed Initial Public Issue.