3 hours ago
HomeMarket NewsStocks NewsTimex India promoter to exercise oversubscription option in 15% stake sale via OFS
The OFS will comprise a base offer of 7.5% of the company’s equity, along with an additional 7.5% under the green shoe option. Shares of Timex Group India Ltd ended at ₹251, down by ₹13.20, or 5%, on the BSE today (June 25).
Timex Group Luxury Watches, the promoter of leading watchmaker Timex Group India Ltd, will exercise the oversubscription option in its upcoming offer for sale (OFS) slated for June 26, increasing the total stake on offer to 15%.
The OFS will comprise a base offer of 7.5% of the company’s equity, along with an additional 7.5% under the green shoe option. The OFS is open for non-retail investors on June 25 and for retail investors on June 26. As of March 2025, Timex Group Luxury Watches BV held a 74.93% stake in Timex Group India.
Timex Group India Ltd designs, manufactures, and markets innovative timepieces and is part of Timex Group, which is a privately-held company headquartered in Middlebury, Connecticut, with multiple operating units and over 2,000 employees worldwide.
Also Read: Timex sees good times ahead, to expand brand portfolio to spur growth
Apart from Timex, one of the leading watch brands in India, Timex Group India has a vast range of licensed brands like Versace, Guess, Gc, Philipp Plein, Plein Sport, Ferragamo, Nautica, Ted Baker, adidas, and UCB watches.
It retails via over 5,000 offline trade stores and key online marketplaces. Timex Group India also operates over 40 exclusive franchise stores under the umbrella of Just Watches and Timex World.
Shares of Timex Group India Ltd ended at ₹251, down by ₹13.20, or 5%, on the BSE today (June 25).
Also Read: Timex sees good times ahead, to expand brand portfolio to spur growth
(Edited by : Shoma Bhattacharjee)
