Kewal Kiran Clothing, amongst India’s premier lifestyle companies, today, announced the acquisition of 50% stake in Kraus Casuals Private Limited (KCPL) including primary infusion and secondary purchase. The Company informs the exchange regarding acquisition on July 18.
Kewal Kiran Clothing has acquired as on agreement 16.65 crore equity shares of Rs. 10/- each constituting 50% of the equity and voting share capital of KPCL. After the acquisition, KPCL has become a subsidiary of the Company.
The acquisition will help Kewal Kiran Clothing to further deepen its offerings in Women’s Denim and casual wear category, thereby making the Company a complete family apparel Brand House. The acquisition is likely to have an overall positive impact on revenue and profitability of the company.
About Kraus Casuals Private Limited – (https://www.kewalkiran.com/)
Incorporated on Mat 22, 2024, KPCL
KCPL is in the business of Manufacturing, selling, designing and exporting women’s clothing primarily in women, teen and kids casual and denim bottom wear and top wear currently under the brand ‘KRAUS jeans’ or any other brand used by KCPL or any other brand or category (including accessories) used or proposed to be used by KCPL. Business was earlier operating under a partnership firm Oriental Trading Company (hereinafter referred to as “OTC”).
OTC and KCPL entered into a Business Transfer Agreement (BTA) pursuant to which the Partners of OTC have transferred, as a going concern, by way of succession of the business of OTC firm to KCPL.
KPCL has achieved turnover of Rs. 100 crore in FY 2022, Rs. 179 crore in FY 2023 and Rs. 176 crores in the Financial Year of 2024.
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