Global watchmaker Timex Group Luxury Watches BV will sell 15 per cent share in its Indian entity through an Offer for Sale (OFS).
The floor price for the OFS shall be Rs 175 per equity share, which is 33 per cent lower than the Tuesday's closing price of Rs 264.20.
The OFS is scheduled to open for non-retail investors on Wednesday and for retail investors on Thursday. The offer will be open on BSE and the National Stock Exchange, it added.
Timex Group India has received a copy of revised notice of OFS from its promoter Timex Group Luxury Watches BV, Netherlands, dated June 24, 2025, according to a regulatory filing.
"The promoter proposes to sell up to 75.71 lakh equity shares of face value of 1 each, representing 7.50 per cent of the total issued and paid-up equity share capital of the company on June 25, 2025 and on June 26,2025 with an option to additionally sell up to 75.71 lakh equity shares…," it said.
Timex Group Luxury Watches BV owns a 74.93 per cent stake in Timex Group India as on March 2025.
In the financial year ended March 2025, Timex Group India's revenue was at Rs 538.10 crore.
In India, Timex brand is its prime focus and major business contributor, other brands such as Helix and TMX are also growing.
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
