Mumbai-based Kewal Kiran Clothing Limited had raised Rs 80 crore by issuing 31,000,37 equity shares of Rs 10/- each at a premium of Rs 250/- per share.

The proceeds from the said issue would be utilized 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.

The board of directors of Kewal Kiran Clothing at its meeting held on May 11, 2008 recommended a final dividend of 20% on equity shares of Rs 10 each, subject to the approval of the shareholders at the ensuing annual general meeting of the company.

Kewal Kiran Clothing Limited engages in the design, manufacture, and marketing of branded jeans, semi-formal, and casual wear for men primarily in India.

As of March 31, 2007, the company operated 60 K-Lounge stores. The company sells its products in Asia, the Middle East and Commonwealth of Independent States.