Ethos IPO opens today — check out important details related to the IPO

• Ethos, a luxury watch retailer is planning to raise ₹472 crore from the public.
• The IPO is open for subscription from today (May 18) and will conclude on May 20.
• The price band of the issue is fixed at ₹836 - ₹878 per share.

Ethos is a Chandigarh-based luxury watch retailer that is set to open its initial public offering (IPO) from today, May 18 till May 20.

The IPO consists of ₹472 crore including a fresh issue of equity shares worth ₹375 crore and an offer for sale (OFS) of up to 11.08 lakh equity shares by the promoters and shareholders of the company.

The IPO proceeds will be used towards repayment of debt, funding working capital, capex for establishing new stores and upgrading existing stores.

The company has a portfolio of 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. It has a market share of 20% in the exclusive luxury segment, and 13% share in the total retail sales in the premium and luxury segments.

It has 50 physical retail stores in 17 cities in India and offers an omnichannel experience to its customers via website and social media platforms. As of December 31, 2021, the company's website had 2.18 crore visitor sessions.

Here are some of the important dates related to the IPO:
The luxury watch retailer made a profit of ₹5.78 crore in FY21 as against a loss of ₹1.33 crore in the previous year.



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