Luxurious Watch Retailer Ethos Makes A Tepid Debut, Lists At 6$ Low cost

Luxury Watch Retailer Ethos Makes A Tepid Debut, Lists At 6$ Discount

Ethos IPO Itemizing: Shares record with 6% low cost to concern value

New Delhi:

Shares of luxurious and premium watch retail participant Ethos Ltd have been listed on Monday with a reduction of 6 per cent in opposition to the problem value of Rs 878.

The inventory made its debut at Rs 830, registering a decline of 5.46 per cent from the problem value on the BSE. It additional tumbled 9.24 per cent to Rs 796.80.

On the NSE, it’s listed at Rs 825, decrease by 6 per cent.

The preliminary public supply of Ethos was totally subscribed by 1.04 instances on the final day of subscription on Could 20.

The Preliminary Public Providing (IPO) had a contemporary concern of fairness shares aggregating to Rs 375 crore and an offer-for-sale of 11,08,037 fairness shares.

The value vary for the Rs 472.3-crore supply was Rs 836-878 per share.

Proceeds from the contemporary issuance can be utilized for compensation of the debt, funding working capital necessities, opening new shops and basic company functions.

Ethos has the most important portfolio of premium and luxurious watches in India. It retails 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.

Beneath Ethos’s model title, it opened its first luxurious retail watch retailer in January 2003 in Chandigarh.

Leave a Reply

Your email address will not be published.