Leading fashion company Kewal Kiran Clothing Limited has revealed its most recent tactical move to support its subsidiary, K-Lounge Lifestyle Limited. A further 30,00,000 equity shares of K-Lounge Lifestyle Limited, priced at Rs. 3,00,00,000/-, were subscribed for by Kewal Kiran Clothing Limited on August 31, 2023.
These new shares, each with a face value of Rs. 10, were distributed via a rights issue. Kewal Kiran Clothing Limited’s dedication to enhancing its position in the lifestyle and fashion retail industry is furthered by this transaction.
By investing in K-Lounge Lifestyle Limited through this rights issue, Kewal Kiran Clothing Limited demonstrates its commitment to preserving and extending its market leadership in the apparel sector.
