Ethos IPO to open on May 18; sets price band at Rs 836.00 to Rs 878 per share

At the upper end of the price band, the total issue size will be Rs 472 crore

FPJ Web DeskUpdated: Wednesday, May 11, 2022, 01:41 PM IST
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The IPO consists of a fresh issue of equity shares aggregating to Rs Rs 375 crore. /Representative image | Pixabay

Chandigarh-based luxury and premium watch retail player, Ethos Limited has fixed the price band at Rs 836-Rs 878 per equity share for its maiden public offer.

The initial public offering (IPO) of the Company will open on Wednesday, May 18 for subscription and close on Friday, May 20, 2022.

The IPO consists of a fresh issue of equity shares aggregating to Rs 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 total issue size will be Rs 472 crore

The anchor book will open on 17 May.

The allotment of shares will be on 26 May and listing on 30 May.

Proceeds will be used to repay debt, working capital requirements and opening of stores.

Ethos, pomoted by KDDL Ltd, is India’s largest luxury and premium watch retail player delivering a content-led luxury retail experience to its customers through online and physical presence. In addition to its chain of 50 physical retail stores in 17 cities in India in a multi store format, it offers an omnichannel experience through website and social media.

The Company’s revenue from operations stood at Rs 386.57 crore for the fiscal 2021, while its restated profit for the year was Rs 5.78 crore for the same period.

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