Ethos IPO: KDDL subsidiary files DRHP with Securities and Exchange Board of India

24 Jan 2022 , 10:15 AM

Ethos Limited, a material subsidiary of KDDL Limited on January 22, 2022, filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for an Initial Public Offer, comprising of fresh issue of Equity Shares aggregating up to Rs40,000 lakhs and an offer for sale of up to 11,08,037 Equity Shares by the selling shareholders.

The company board on December 1, 2021, had recommended the raising of capital through an Initial Public Offering of the Company for an amount not exceeding Rs50,000 lacs 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.

At around 10.19 am, KDDL Ltd was trading at Rs996.60 per share up by Rs12.6 or 1.28% from its previous closing of Rs984 per share on the BSE.