Kewal Kiran Raises K-Lounge Stake With Rs. 3 Crore Investment
Kewal Kiran Clothing Limited, a leading player in the fashion industry, has announced its latest strategic move to bolster its subsidiary, K-Lounge Lifestyle Limited. On August 31, 2023, Kewal Kiran Clothing Limited subscribed to an additional 30,00,000 equity shares of K-Lounge Lifestyle Limited, valued at Rs. 3,00,00,000/-.
These new shares were issued through a rights issue, with each share bearing a face value of Rs 10. This transaction reinforces Kewal Kiran Clothing Limited’s commitment to strengthening its presence in the lifestyle and fashion retail sector.
Kewal Kiran Clothing Limited’s investment in K-Lounge Lifestyle Limited through this rights issue reaffirms its dedication to maintaining and expanding its market leadership in the fashion industry.