Ethos Rights Issue dates 20 June – 3 July 2025.
Established in 2003, Ethos is India’s leading luxury watch retailer, specializing in the sale, service, and distribution of premium timepieces. Headquartered in Chandigarh, the company operates over 70 retail stores across 17 cities, offering more than 70 luxury watch brands including Rolex, Omega, Tag Heuer, Breitling, and Longines.
Ethos holds a market share of approximately 13% in India’s premium watch segment. In FY 2025, the company reported revenue of INR 1,252 crore, reflecting a 25.29% year-on-year growth, with a net profit of INR 96 crore. Through its omnichannel strategy, including the robust e-commerce platform ethoswatches.com, the company generates nearly 20% of its sales online, capitalizing on the increasing digital adoption in India’s luxury retail market.
Ethos also provides certified pre-owned luxury watches through its ‘Second Time Zone’ vertical, contributing to a sustainable and circular watch economy.
Promoters of Ethos – Yashovardhan Saboo, KDDL Limited, and Mahen Distribution Limited
Table of Contents
Ethos Rights Issue Details
| Ethos Rights Issue Date | 20 June – 3 July 2025 |
| Ethos Rights Issue Price | INR 1,800 per share |
| Issue Size (in Shares) | 22,77,250 shares |
| Issue Size (in INR) | INR 409.91 crore |
| Issue Entitlement | 4 equity shares for every 43 equity shares held on the record date |
| Terms of Payment | Fully payable at the time of application |
| Ethos Rights Issue Record Date | 12 June 2025 |
| Face Value | INR 10 per share |
| Listing On | BSE, NSE |
Ethos Rights Issue Calculation
| Ethos Rights Issue Price | INR 1,800 per share |
| Market Price on Rights Issue Approval | INR 2,859.2 per share |
| Dilution Factor (X) | 1.09 |
| Fair Value After Dilution at Prevailing Price | INR 1,890.14 per share |
Ethos Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 789 | 999 | 1,252 |
| Expenses | 668 | 841 | 1,063 |
| OPM (%) | 15.0 | 16.0 | 15.0 |
| Net Income | 60 | 83 | 96 |
| ROCE (%) | 18.0 | 15.0 | 13.0 |
Ethos Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Funding working capital requirements of the company – INR 310 crore
- General corporate purposes
Ethos Rights Offer Documents
- Ethos Rights Issue Application Form
- Ethos Letter of Offer
- Board Meeting Outcome
- Ethos Draft Letter of Offer
- Rights Issue in 2024
Ethos Rights Issue Dates
| Rights Issue Approval Date | 6 June 2025 |
| Rights Issue Record Date | 12 June 2025 |
| Credit of Rights Entitlement | 13 June 2025 |
| Rights Issue Opening Date | 20 June 2025 |
| Last Date for Market Renunciation | 30 June 2025 |
| Rights Issue Closing Date | 3 July 2025 |
| Finalization of Basis of Allotment | 4 July 2025 |
| Rights Allotment Date | 4 July 2025 |
| Credit Date | 7 July 2025 |
| Listing Date | 8 July 2025 |
Ethos Rights Offer Registrar
KFIN TECHNOLOGIES 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 Contact Details
ETHOS LIMITED
Kamla Centre, S.C.O. 88-89, Sector 8-C,
Madhya Marg, Chandigarh 160009, India
Phone: +(91) 124- 6932100
Email: [email protected]
Website: www.ethoswatches.com
Ethos Rights Offer FAQs
What is the Ethos Rights Issue Price?
The issue price is INR 1,800 per share.
What is the Ethos Rights Issue entitlement ratio?
The eligible shareholders are offered 4 equity shares for every 43 equity shares held on the record date.
What is the Ethos Rights Issue Record Date?
The Record date is 12 June 2025.
How to Apply in Ethos Rights Offer?
The best way to apply in Ethos Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.