બે Price band of each equity share with a face value of Rs.10 per (“equity share”) is Rs.836 – Rs.878
તારીખ Bid / Offer Opening Date – Wednesday, May 18, 2022 and Bid / Offer Closing Date – Friday, May 20, 2022.
Ahmedabad-based Chandigarh-based Ethos Limited (“Company” / “Ethos”) has set its price band at Rs 836 to Rs 878 per equity share for its first public offering. The company’s initial public offering (“IPO” or “offer”) will open for subscription on Wednesday, May 18, 2022 and close on Friday, May 20, 2022. Investors can bid in multiples of at least 17 equity shares and then 17 equity shares.
The IPO includes a total of new issues of equity shares worth a total of Rs 37,500 lakh and sale of up to 1,108,037 equity shares (OFS).
Ethos has a significant share of premium and luxury watches in India and retailers include Omega, IWS Chefosen, Jagger Lee Coultre, Panerai, Bulgari, H.P. Retail 50 brands such as Moser & CE, Rado, Longins, Baume & Mercier, Orissa SA, Quorum, Carl F. Buchairer, Tissot, Raymond Weil, Louis Moinet and Belmain have 50 premium and luxury watch brands. It has a strong market share of 20% in the luxury watch retail sector in India and 13% in the premium and luxury watch retail sector.
Under the brand name “Ethos”, he opened his first luxury retail watch store in the Union Territory of Chandigarh in January 2003 by promoter KDDL Limited based on his experience in the watch industry. It has established strong relationships with global watch brands and is further strengthening its business.
In addition to premium and luxury watch retail, it has also been operating a certified luxury watch retail, which it has owned since FY19. It has over 50 retail stores in 17 cities across India in a multi-store format and provides its customers with a customized media experience through its website and social media platform.
Its customized media approach is based on its efforts to provide customers with experience, content, exclusive service, accessibility and flexibility through its website, India’s largest website for premium and luxury watch in terms of brand and number of watches available.
The company’s operating income for the financial year 2021 is Rs. The operating income for the nine months ended December 2021 was Rs.41,859.31 lakhs and the re-determined profit for the same period was Rs.1,598.78 lakhs.
In case of any change in the price band, the bid / offer period will be extended for at least three additional working days after such change in the price band. However the bid / offer period will not be extended beyond 10 working days.
In case of any unavoidable circumstances, bank strike or similar circumstances our company may extend the bid / offer period for at least three working days for reasons noted in writing in consultation with BRLM. However, the bid / offer period will not exceed 10 working days.
Modified Moderator and Sponsor by issuing a public notice if any change in the price band and change period of bid / offer, if applicable, through a notice of stock exchange and by showing the change on the respective website of Book Running Lead Manager and at the terminal of Syndicate members and when applicable. The information will be widely disseminated to the banks.
This offer is in reference to Rule 19 (2) (b) of the amended Securities Contracts (Regulation) Rules (“SCRR”), 1957, read in conjunction with Regulation No. 31 of the SEBI ICDR Regulations. This offer is regulated by SEBI ICDR Regulation no. In pursuance of 6 (1) the book is being introduced through the building process,
No more than 50% of the offer equity share offer will be made available to qualified institutional buyers (“QIB”, and such “QIB share”) on a proportional basis. Our company and the selling shareholders may, in consultation with BRLM, allocate up to 60% of the QIB stake to Anchor Investors at their discretion in compliance with SEBI ICDR regulations.
Out of which at least one-third share will be available for allocation to local mutual funds only subject to valid bids being received from local mutual funds at or above the anchor investor allotment price. In case of under-subscription or non-allotment to anchor investors, the remaining equity shares will be added to the total QIB share.
In addition, only 5% of the total QIB share will be available for allotment to mutual funds on a proportional basis and the remaining total QIB share will be available for allotment to all QIB bidders on a proportional basis, subject to valid bids being received at offer price or higher.
In addition, subject to valid bids received at or above the offer price, subject to SEBI ICDR rules, not less than 15% of the offer for proportional allotment to non-institutional bidders and 35% of the offer for allotment to retail individual bidders (“RIB”). No less than shares will be made available.
The equity share available for allotment to non-institutional bidders under the non-institutional share will be subject to the following: (i) One-third of the share available to non-institutional bidders will be reserved for applicants with an application size of more than Rs. 2.00 lakhs and up to Rs. 10.00 lakhs.
And (ii) two-thirds of the share available to non-institutional bidders shall be reserved for applicants with an application size of more than Rs. 10 lakhs. Provision is made, however, that the unsubscribed portion of the sub-categories mentioned above may be allotted to applicants in other sub-categories of non-institutional bidders.
All potential bidders except anchor investors will be required to use the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts (including UPI ID in case of RIB and individual investors with application size up to Rs. ,
The amount will be blocked by SCSB for participating in the offer. Anchor investors are not allowed to participate in the offer through the ASBA process. For more details, see “Offer process” on page 479 of RHP.
