Ethos IPO date is 18 May 2022. The IPO price band is set at INR836 – 878 per share. The issue comprises of sale of fresh shares worth upto INR375 crore. In addition, 11,08,037 equity shares will be sold by existing shareholders through OFS route.
Promoters of Ethos Limited – Yashovardhan Saboo, KDDL Limited and Mahen Distribution Limited
Ethos Limited Business Description
The company is India’s largest luxury and premium watch retail player. In addition to its chain of 50 physical retail stores in 17 cities in India in a multi store format, the company offers an Omnichannel experience to customers through its website and social media platforms. It has the largest portfolio of premium and luxury watches in India enabling it 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.
As of 31 December 2021, the company has an extensive network of 50 retail stores spread across 17 cities of New Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow, Gurgaon, Guwahati, Ludhiana, Nagpur, Noida, Pune and Thane in India. These 50 stores are categorised into 14 Ethos Summit Stores and one Airport store, 15 multi-brand outlets and 10 Ethos Boutiques, 9 luxury segment mono-brand boutiques offering a single luxury watch brand, and 1 CPO luxury watch lounge for pre-owned watches.
As its offline and online channels are integrated, customers can place orders for products either offline or online and have the flexibility of buying products at one store and returning at another or browsing its product catalogues and placing orders online with doorstep delivery.
As of 31 December 2021, the company’s website had 21,844,216 visitor sessions.
Ethos IPO Objectives
- Repayment or pre-payment, in full or in part, of all or certain borrowings availed by the company – INR29.9 crore
- Working capital requirements – INR235 crore
- Establishment of new stores and renovation of existing stores – INR33.3 crore
- Upgradation of ERP software – INR2 crore
- General corporate purpose
Ethos IPO Date, Size & Price Band
| Ethos IPO Date | 18 – 20 May 2022 |
| IPO Price Band | INR836 – 878 per share |
| Fresh issue | INR375 crore |
| Offer For Sale | 11,08,037 equity shares (INR92.63 – 97.29 crore) |
| Total IPO size | INR467.63 – 472.29 crore |
| Minimum bid (lot size) | 17 shares |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Ethos Financial Performance
| Â | FY2019 | FY2020 | FY2021 | 9M FY2022 |
| Revenue | 445.1 | 461.0 | 403.1 | 429.3 |
| Expenses | 428.6 | 458.7 | 395.2 | 407.7 |
| Net income | 9.9 | (1.3) | 5.8 | 16.0 |
| Net Margin (%) | 2.2 | (0.3) | 1.4 | 3.7 |
Ethos Offer News
Ethos IPO Timetable
| IPO Opening Date | 18 May 2022 |
| IPO Closing Date | 20 May 2022 |
| Finalisation of Basis of Allotment | 25 May 2022 |
| Initiation of refunds | 26 May 2022 |
| Transfer of shares to demat accounts | 27 May 2022 |
| Listing Date | 30 May 2022 |
| Opening Price on NSE | INR825 per share (down 6.04% from IPO price) |
| Closing Price on NSE | INR801.4 per share (down 8.72% from IPO price) |
Ethos Valuations & Margins
| FY2019 | FY2020 | FY2021 | 9M FY2022 | |
| EPS | 5.22 | (0.75) | 3.15 | 8.74 |
| PE ratio | NA | NA | 265.40 – 278.73 | NA |
| RONW (%) | 7.58 | (0.89) | 3.72 | 8.07 |
| ROCE (%) | NA | NA | NA | NA |
| EBITDA (%) | NA | NA | NA | NA |
| Debt/Equity | 1.08 | 1.10 | 0.78 | 0.60 |
| NAV | NA | NA | 85.43 | 105.48 |
Ethos IPO Subscription – Live Updates
| Category | Shares Offered | Day 1 | Day 2 | Day 3 |
| QIB | 11,83,115 | 0.00 | 0.19 | 1.06 |
| NII | 8,39,053 | 0.04 | 0.25 | 1.48 |
| Retail | 19,57,789 | 0.53 | 0.68 | 0.84 |
| Total | 39,79,957 | 0.27 | 0.44 | 1.04 |
Ethos IPO Allotment
Ethos IPO allotment is now available on KFin Technologies’ website. Click on this link to get allotment status.
Ethos Offer Registrar
Kfin Technologies Private Limited
Selenium Tower – B, Plot 31 & 32,
Gachibowli, Financial District,
Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
Ethos Limited Contact Details
Ethos Limited
Kamla Centre, S.C.O. 88-89,
Sector 8-C, Madhya Marg,
Chandigarh – 160 009
Tel: 91 172 2548 223/24
E-mail: [email protected]
Website: www.ethoswatches.com
Ethos IPO FAQs
When is Ethos IPO date?
Ethos IPO date is 18 May 2022 for QIB, NII, and Retail Investors.
What is Ethos offer Investors’ Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
How to Apply in Ethos public offer?
You can apply Ethos public offer via ASBA online via your bank account. You can also apply ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
What is Ethos IPO Allotment Date?
Ethos IPO allotment date is 25 May 2022.
What is Ethos IPO Listing Date?
Ethos IPO listing date is 30 May 2022.
