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At the maximum buy-back size and the maximum buyback price, the indicative maximum number of equity shares to be bought back under the buyback would be 1,75,000 equity shares, representing 1.37% of paid-up equity shares of the company.
The maximum buyback size represents 9.73% and 8.47% of the aggregate of the total paid-up equity share capital and free reserves of the company.
As on 13 January 2023, promoters and promoter group held 49.26% in the company.
Assuming the buyback of maximum buyback shares, promoter group holding will increase to 49.95%.
Shares of KDDL fell 2.95% to Rs 1036.25 on the BSE. The maximum buyback price is 102.65% premium to the ruling market price.
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KDDL is one of the leading companies of India engaged in the manufacture of watch components, high quality precision stamped components and progressive tools for a wide range of engineering applications. KDDL also owns the largest retail chain of luxury watches in India through its subsidiary, Ethos.
On a consolidated basis, net profit of KDDL declined 77% to Rs 1.38 crore on 34.59% increase in net sales to Rs 260.13 crore in Q2 September 2022 over Q2 September 2021.
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