Ethos IPO to open on May 18, sets price band at Rs836-878 per share

Chandigarh-based Ethos Restricted (“The Firm” / “Ethos”) has mounted the value band at Rs 836.00 to Rs 878.00 per Fairness Share for its maiden public provide. The preliminary public providing (“IPO” or “Supply”) of the Firm will open on Wednesday, Could 18, 2022, for subscription and shut on Friday, Could 20, 2022. Traders can bid for no less than 17 Fairness Shares and in multiples of 17 Fairness Shares thereafter.
 
The IPO consists of a contemporary challenge of fairness shares aggregating to Rs 37,500 lakhs (Rs 375 crore) and a suggestion on the market (OFS) of as much as 1,108,037 fairness shares.
 

Ethos has a sizeable portfolio of premium and luxurious watches in India and retail to 50 premium and luxurious watch manufacturers 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 wholesome market share of 20% within the luxurious watch retail section and 13% within the premium and luxurious watch retail section in India.

Beneath the model title “ETHOS, it opened Its first luxurious retail watch retailer in January 2003 within the Union Territory of Chandigarh by its Promoter, KDDL Restricted, with an expertise within the watch business. It established sturdy relationships with the worldwide watch manufacturers and additional strengthening its enterprise.

Along with the premium and luxurious watch retail, it additionally undertakes retail of licensed pre-owned luxurious watches since Fiscal 2019. It has 50 bodily retail shops in 17 cities in India in a multi retailer format, and presents an Omnichannel expertise to its prospects via its web site and social media platforms. By means of its Omnichannel strategy it’s premised on its endeavour to supply expertise, content material, customisation, attain and comfort to the purchasers via its web site, which is the India’s largest web site for premium and luxurious watches in phrases in variety of manufacturers and watches provided.

The Firm’s income from operations stood at Rs 38,657.07 lakhs (Rs 386.57 crore) for the fiscal 2021, whereas its restated revenue for the 12 months was Rs 578.53 lakhs (Rs 5.78 crore) for a similar interval. For the 9 months ending December 2021, income from operations was Rs 41,859.31 lakhs (Rs 418.59 crore) and restated revenue for the interval was Rs 1,598.78 lakhs (Rs 15.98 crore).