04 September 2023, Mumbai
Share Acquisition Details
Kewal Kiran Clothing Limited (KKCL) has undertaken a subscription to acquire additional shares from its wholly-owned subsidiary, K-Lounge Lifestyle Limited (KLL).
The subscription involves 30,00,000 equity shares, each with a face value of Rs. 10/- (Rupees Ten Only).
The total consideration for the share acquisition is Rs. 3,00,00,000/- (Rupees Three Crore only).
Purpose of Share Acquisition
The primary purpose of the share acquisition is to direct resources toward the continued growth and improvement of KLL's retail business.
KLL has yet to initiate its operations in the retail sector, but KKCL is confident that the company has the potential to become a major player in the market.
