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Held on 15 March 2018
The Board of KDDL at its meeting held on 15 March 2018 has approved conversion of 113206 Zero coupon convertible warrants of Rs 265 each issued to promoter/ promoter group on 12 December 2016 into equal number of equity shares of Rs 10 each at a price of Rs 255 per share.The Board also approved further investment upto Rs 15 crore by way of preferential allotment of 1086956 equity shares of Rs 10 each at the rate of Rs 138 per share in the subsidiary company, Ethos in one or more tranches. Post subscription and allotment, the consolidated holding of the company in the subsidiary will increase from 74.15% to 75.86% on fully diluted basis.
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