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Luxury and premium watch retail player Ethos Limited's 472-crore initial public offering (IPO) will open for subscription tomorrow and conclude on Friday, May 20, 2022. The firm has fixed a price band of 836-878 a share for its three-day issue.

The IPO consists of a fresh issue of equity shares aggregating to 375 crore and an offer-for-sale (OFS) of up to 1,108,037 equity shares. At the upper end of the price band, the public issue is expected to garner 472.3 crore. The equity shares of the company are expected to list on BSE and NSE on Monday, May 30, 2022.

Proceeds from the fresh issuance will be utilised for repayment of debt, funding working capital requirements, opening new stores and general corporate purposes, the company said.

Ethos has the largest portfolio of premium and luxury watches in India and retails 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 has 50 physical retail stores in 17 cities in India in a multi- store format, and offers an omni-channel experience to its customers through its website and social media platforms. The company's revenue from operations stood at 386.57 crore for fiscal 2021, while its net profit was 5.78 crore in the same period.

Emkay Global Financial Services and InCred Capital Wealth Portfolio Managers are the book running lead managers to the issue. KFin Technologies Limited is the registrar of the IPO.


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