Timex Group India Ltd set a floor price of ₹275 per share for its OFS, with promoter Timex Group Luxury Watches B.V. planning to sell 4.47% equity and possibly more. The move aims to boost liquidity, diversify ownership, and strengthen investor participation in the premium watchmaker’s growth story.
Timex Group India Ltd announced the launch of an Offer for Sale (OFS), setting the floor price at ₹275 per share. The OFS will see promoter Timex Group Luxury Watches B.V. divest up to 4.47% equity in the company, with an option to sell additional shares if demand warrants.
Key Highlights
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Floor Price: The OFS has been priced at ₹275 per share, providing investors clarity on entry levels.
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Promoter Stake Sale: Timex Group Luxury Watches B.V. will sell 4.47% equity, with flexibility to offload more depending on market appetite.
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Market Impact: The divestment is expected to increase free float, potentially improving liquidity and broadening institutional participation.
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Strategic Context: Promoter stake sales often signal efforts to unlock value and diversify ownership, while maintaining long-term commitment to the business.
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Investor Outlook: Analysts suggest the OFS could attract strong interest given Timex India’s brand strength and growth prospects in the premium watch segment.
This move underscores Timex India’s focus on enhancing shareholder value while aligning with broader capital market practices.
Sources: Reuters, Economic Times, Business Standard