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All that you should know about the Company before applying for the IPO.
The public issue of equity shares of Ethos Limited will open for subscription on May 18, 2022 and closes on May 20, 2022. It is expected to list on the stock exchanges on May 30, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Established in 2007, promoted by KDDL Limited, it is India’s one of the largest luxury and premium watch retail player. The Company 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 13% share of the total retail sales in premium and luxury segment and a share of 20% when seen in exclusively luxury segment in the FY 2020. The Company works on a nonexclusive basis with most of its suppliers.
In addition to watch retail, the Company also undertakes retail of certified pre-owned luxury watches under ‘Certified Pre-Owned’ (CPO) luxury watch lounge located at National Capital Territory of New Delhi. CPO is a destination for selling and buying preowned luxury watches under technical expert supervision providing a 360-degree physical inspection and verification of watches and certified with a 2-year warranty.
It has chain of 50 physical retail stores spread across 17 cities in India in a multi store format. The Company also offers an Omnichannel experience to its customers through its website and social media platforms. Its website www.ethoswatches.com is India’s largest website for premium and luxury watches in terms in number of brands and watches offered. As of the calendar year ending 31-DEC-2021, its website had 2,18,44,216 number of visitor sessions. On its website, visitors are assigned highly trained watch consultants, who help the customers to choose from the wide array of choices available.
Watches are categorized on the basis of price segments – High luxury segment (₹ 10 lakhs and above per watch), Luxury watch segment (₹ 2.5 lakhs - ₹ 10 lakhs per watch), Bridge to Luxury segment (₹ 1 lakh - ₹ 2.5 lakhs per watch), Premium segment (₹ 25 thousand -1 lakh per watch) and Fashion and Mass segment (up to ₹ 25 thousand per watch).
Yashovarshan Saboo, KDDL Limited, Mahen Distribution Limited
There are no listed peers in India
Given below are the objectives of the Company –
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.
|IPO Size||₹ 472.29 Crore *|
|Offer Mix||Fresh issue ₹ 375 Crore + Offer For Sale ₹ 97.29 Crore|
|Price Band||₹ 836 - ₹ 878|
|Lot Size||17 Shares (& in multiples thereof)|
|Face Value||₹ 10|
|Application Amount||Min. ₹ 14,926 (1 lot) | Max. ₹ 1,94,038 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||KFin Technologies Limited|
|Cut-off time for UPI Mandate Confirmation||23-May-2022 (up to 12:00 PM)|
₹ 236.15 Crore
(50% of Issue Size)
₹ 70.84 Crore
(15% of Issue Size)
₹ 165.30 Crore
(35% of Issue Size)
|IPO Opens||May 18, 2022|
|IPO Closes||May 20, 2022|
|Finalization of the basis of allotment||May 25, 2022|
|Unblocking of funds / Initiation of refunds||May 26, 2022|
|Credit of equity shares to Demat accounts||May 27, 2022|
|Listing of equity shares||May 30, 2022|
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