Ethos Limited’s IPO to open on May 18

Ethos Limited’s IPO to open on May 18

Sets price band at ₹836.00 to ₹878.00 per Equity Share

Hyderabad: Chandigarh-based Ethos Limited has fixed the price band at ₹ 836.00 to ₹ 878.00 per Equity Share for its maiden public offer. The initial public offering of the Company will open on Wednesday, May 18, 2022, for subscription and close on Friday, May 20, 2022. Investors can bid for a minimum of 17 Equity Shares and in multiples of 17 Equity Shares thereafter.

The IPO consists of a fresh issue of equity shares aggregating to ₹ 37,500 lakhs (Rs 375 crore) and an offer for sale (OFS) of up to 1,108,037 equity shares.

Ethos has a sizeable portfolio of premium and luxury watches in India and retail to 50 premium and luxury watch brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Carl F. Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain. It enjoys a healthy market share of 20% in the luxury watch retail segment and 13% in the premium and luxury watch retail segment in India.

Under the brand name “ETHOS, it opened Its first luxury retail watch store in January 2003 in the Union Territory of Chandigarh by its Promoter, KDDL Limited, with an experience in the watch industry. It established strong relationships with the global watch brands and further strengthening its business.

In addition to the premium and luxury watch retail, it also undertakes retail of certified pre-owned luxury watches since Fiscal 2019. It has 50 physical retail stores in 17 cities in India in a multi store format, and offers an Omnichannel experience to its customers through its website and social media platforms. Through its Omnichannel approach it is premised on its endeavour to provide experience, content, customisation, reach and convenience to the customers through its website, which is the India’s largest website for premium and luxury watches in terms in number of brands and watches offered.

The Company’s revenue from operations stood at ₹ 38,657.07 lakhs (Rs 386.57 crore) for the fiscal 2021, while its restated profit for the year was ₹ 578.53 lakhs (Rs 5.78 crore) for the same period. For the nine months ending December 2021, revenue from operations was ₹ 41,859.31 lakhs (Rs 418.59 crore) and restated profit for the period was ₹ 1,598.78 lakhs (Rs 15.98 crore).

Leave a Reply

Your email address will not be published. Required fields are marked *