Ethos Limited announced a private placement of 684,931 shares at a price of INR 292 per share for gross proceeds of INR 199,999,852 on November 3, 2018. The transaction will include participation from existing investor KDDL Limited (BSE:532054). Post closing, the stake of investor will increase from 72.26% to 73.31% in the company.

The shares will be issued at a premium of INR 282 per share. The transaction has been approved by the board of directors of investor.