Ethos IPO
The Initial Public Offering (IPO) of Chandigarh-based Ethos Limited ("Company"), one of country’s largest luxury and premium watch retail player with 13% share of the total retail sales in premium and luxury segment and a share of 20% in exclusively luxury segment in the financial year 2020, received bids of 41,38,650 shares against the offered 39,79,957 equity shares, at a price band of ₹ 836-878, according to the data available on the stock exchanges. Overall the issue was subscribed 1.04 times on the last day of bidding.
Non-Institutional Investors
Non-Institutional Investors portion was subscribed the most with 1.48 times, followed by Qualified Institutional Buyers which witnessed a subscription of 1.06 times. Portion set aside for Retail investors was subscribed 0.84 times.
Equity Shares
The IPO consists of a fresh issue of equity shares aggregating to Rs 375 crore and an offer for sale (OFS) of up to 1,108,037 equity shares.
Company Information
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.
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,
Table Shows Subscription Data For All The Category Of Investors:
HOS LIMITED Last updated on
20 May 2022 | 05:00:00 PM |
Sr.No. | Category | No.of shares offered / reserved | No. of shares bid for | No. of times of total meant for the category |
1 | Qualified Institutional Buyers (QIBs) | 11,83,115 | 12,58,612 | 1.06 |
1(a) | Foreign Institutional Investors (FIIs) | - | 4,74,113 | - |
1(b) | Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | - | 37,400 | - |
1(c) | Mutual Funds | - | 84,150 | - |
1(D) | Others | - | 6,62,949 | - |
2 | Non Institutional Investors | 8,39,053 | 12,43,754 | 1.48 |
2(a) | Corporates | - | 6,40,050 | - |
2(b) | Individuals (Other than RIIs) | - | 5,56,597 | - |
2(c) | Others | - | 47,107 | - |
3 | Retail Individual Investors (RIIs) | 19,57,789 | 16,36,284 | 0.84 |
3(a) | Cut Off | - | 14,14,485 | - |
3(b) | Price Bids | - | 2,21,799 | - |
4 | Employee Reserved | - | - | - |
4(a) | Employee (Cut off) | - | - | - |
4(b) | Employee (Price) | - | - | - |
5 | Reservation PortionShareholder | - | - | - |
5(a) | RPS (Cut off) | - | - | - |
5(b) | RPS (Price) | - | - | - |
| Total | 39,79,957 | 41,38,650 | 1.04 |
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