Ethos IPO : The IPO of luxury watch seller Ethos has disappointed investors with its listing. The IPO of Ethos is listed on the stock exchange with a discount of Rs 830, while the company had come up with an IPO at the rate of Rs 878 per share. That is, the IPO is open 5.78 percent below the issue price.
how was the listing
Ethos IPO opens at Rs.830. But since the listing, the stock is seeing a decline. The stock has fallen to a low of Rs 790. Investors investing in IPO are incurring a loss of Rs 83 per share. Lahal Ethos share is trading at Rs 795. The IPO got a disappointing response. IPO subscribed only 1.04 times. In which the quota of institutional investors is 1.06 percent, the quota of non-institutional investors is 1.48 percent, the quota of retail investors is 84 percent subscribed to their quota.
Know IPO Details
The Ethos IPO was open for subscription on May 18 and investors could bid for this IPO till May 20. The company has raised Rs 472 crore through IPO. Ethos has the largest portfolio of premium and luxury watches in the country. Of these, 50 are the brands of premium and luxury watches. Ethos had fixed a price band of Rs 836-878 per share for the IPO. The proceeds will be used to pay off debt, meet working capital requirements and open new stores.
The company’s brands include Omega, IWC Schaffhausen, Geiger Le Coulter, Pannery, Bulgari, H Moser & Say, Rado, Longines, Baum & Mersher, Orris SA, Quorum, Carl F. Bucherer, Tissot, Raymond Wai, Louise Monet, Balmain . Revenue from business stood at Rs 386.57 crore in FY 2021. Its net profit in the same period was Rs 5.78 crore. The company opened its first luxury retail watch store in Chandigarh in 2003 under the brand name Ethos. The company has 50 retail stores in 17 cities in India. In addition, Ethos also sells its products through its website and social media platforms.
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