Ethos IPO: Open Date, Price, Offer Period & More | Espresso


Ethos IPO: Check Open Date IPO Price Offer Period & Other Details | My Espresso

May 14, 2022
Ethos IPO: Check Open Date IPO Price Offer Period & Other Details | My Espresso

Ethos Limited is coming out with a fresh public issue to raise Rs 1,501.73 crores from the market.

Below are the details of the Ethos Limited IPO price, the Ethos Limited issue size and other such details :

  • Issue opens – May 18 (Wednesday)
  • Issue closes – May 20 (Friday)
  • Issue size – Rs 472.29  crores
  • Price band – Rs 836 to 878 per equity share
  • Bid lot – 17 shares and in multiples thereof

And here are some details of the company and further details on the Ethos Limited issue.

Company details:

·    Ethos Limited are India’s one of the largest luxury and premium watch retail player having 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 financial year 2020, delivering a content-led luxury retail experience to their customers through their online and physical presence. In addition to their chain of 50 physical retail stores in 17 cities in India in a multi store format, they offer an Omnichannel experience to their customers through their website and social media platforms.

·    They have the sizeable portfolio of premium and luxury watches in India enabling them to retail 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.

·    In addition to their premium and luxury watch retail, they also undertake retail of certified pre-owned luxury watches since Fiscal 2019. In addition to their premium and luxury watch retail, they also undertake retail of certified pre-owned luxury watches under ‘Certified Pre-Owned’ (“CPO”) luxury watch lounge located at National Capital Territory of New Delhi. They started their pre-owned luxury watch retail business in Fiscal 2019. 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 two year warranty.

·    Their first luxury retail watch store was opened in January 2003 at Union Territory of Chandigarh by their Promoter, KDDL Limited, a company listed on the BSE and the NSE, under the brand name “ETHOS”. Subsequently, the retail business of their Promoter was hived off into their Company under the name and style of Kamla Retail Limited in 2008 and their Company was renamed as Ethos Limited in 2012, in order to consolidate the business of luxury watch retail under one umbrella for better management and focussed approach.

·    As of date of this Red Herring Prospectus, they have an extensive network of 50 (fifty) retail stores spread across 17 Cities their 50 stores are categorised into 14 Ethos Summit Stores and one Airport store (that houses bridge to luxury, luxury and high luxury brands), 14 multi-brand outlets and 10 Ethos Boutiques both housing bridge to luxury and premium brands, 10 luxury segment mono-brand boutiques offering a single luxury watch brand and 1 CPO luxury watch lounge for pre-owned watches.

·    Their loyalty programme ‘Club Echo’ is a customer relationship management initiative for providing them with a rewarding experience in luxury retail category. Club Echo operates as a dynamic incentive scheme which provides benefits to repeat customers based on their cumulative purchasing over time.

Issue size: Rs 472.29 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 236.14  crores
  • NIB – 15% of the offer – Rs 70.84 crores
  • RET – 35% of the offer – Rs 165.30 crores

Listing: NSE and BSE

Registrar: Kfin Technologies Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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