Shares of Timex Group India hit their five percent lower circuit on Wednesday, June 25, after the promoter of the watchmaker Timex Group Luxury Watches BV will sell 15 percent in the firm via the offer for sale (OFS) route.
The offer includes a base issue of 7.5 percent of the total equity, which amounts to 75.71 lakh shares, combined with an additional 7.5 percent equity under a green shoe option, taking the potential total to 1.51 crore shares.
The OFS is scheduled to open for non-retail investors on Wednesday, June 25 and for retail investors on Thursday, June 26. The offer will be open on BSE and the National Stock Exchange, it added.
The floor price has been fixed at Rs 175 per share, marking a discount of nearly 7 percent to the stock’s latest closing price. As of March 2025, Timex Group Luxury Watches BV owned a 74.93 percent stake in Timex Group India.
Timex Group India has received a revised offer-for-sale notice from its promoter, Timex Group Luxury Watches BV, Netherlands, dated June 24, 2025, as per a regulatory filing.
At 9.15 a.m., shares were quoting Rs 251 on the BSE, down 5 percent.
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For the financial year ended March 2025, Timex Group India reported revenue of Rs 538.10 crore.
Timex Group India Ltd, a part of the privately-held Timex Group headquartered in Middlebury, Connecticut, designs, manufactures, and markets innovative timepieces. The group has multiple operating units and a global workforce of over 2,000 employees.
In addition to Timex, one of India’s leading watch brands, Timex Group India offers a wide portfolio of licensed brands including Versace, Guess, Gc, Philipp Plein, Plein Sport, Ferragamo, Nautica, Ted Baker, adidas, and UCB.
The company retails through more than 5,000 offline trade outlets and major online marketplaces. It also runs over 40 exclusive franchise stores under the Just Watches and Timex World formats.
According to the company's last annual report, it also retails watches from other brands in the fashion and luxury segment, including Guess, Gc, Nautica, Furla, Ted Baker, Adidas Originals, Philipp Plein, Plein Sport, UNLTD, UCB, Versace and Salvatore Ferragamo.
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