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Corporate News
22-Feb-16
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KDDL invests Rs 2.99 crore in Ethos
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Ethos to use funds for expansion of business
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KDDL announced that the Company's subsidiary, Ethos, has raised funds by way of issue of Equity Shares on preferential allotment basis after complying with the provisions of section 42 of the Companies Act, 2013, totalling to Rs. 2,99,99,970/- (Rupees Two crores ninety nine lacs ninety nine thousand nine hundred and seventy only) from KDDL, being the promoter. The aforesaid funds raised by Ethos will be utilized for expansion of its business.
The equity shareholding of KDDL, directly and through its 100% subsidiary, in Ethos on conversion of the CCCPS on fully diluted basis will increase from 71.59% to 72.01%.
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