KDDL Limited — JV/Acquisition, 08-07-2025: Acquisition

KDDL Limited and its subsidiary Mahen Distribution Limited have picked up additional shares in Ethos Limited via a Rights Issue—Mahen acquired 4.22% and KDDL 0.04%, maintaining their combined 50.12% control in the luxury watch retailer. Ethos, India’s largest premium and luxury watch retail chain with 70+ stores and brands, reported a ₹1,25,163 lakh turnover in 2024-25. The deal, funded through cash at ₹1,800 per share, supports Ethos’s working capital and general corporate needs without altering KDDL’s holding or operational control.