Kewal Kiran to raise Rs 80.60cr via equity shares

New Delhi, July 26 (UNI) Kewal Kiran Clothing Ltd today said it will raise about Rs 80.60 crore by issuing over 30 lakh equity shares of Rs 10 each at a premium of Rs 250 per share.

The proceeds from the issue will be utilised for capital expenditure in setting up new manufacturing facilities, expansion of distribution network by opening additional exclusive outlets, building corporate office and to meet general corporate purposes, a press release said.

The group manufactures men's wear including jeans, denim shirts, cotton trousers, cotton shirts, non-cotton shirts.

UNI