Ethos Limited IPO Detail
Ethos Limited is the largest luxury and premium watch retailer in India. The company delivers premium luxury watches through websites, social media platforms and physical stores. Ethos Limited operates on an omnichannel model and allows customers to order products either offline or online and have the flexibility of buying products at one store and returning at another or browsing product catalogues and placing orders online with doorstep delivery.
The company's watch portfolio has 50 premium brands including 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.
The company has 50 physical retail stores in 17 cities in India including New Delhi Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow, Gurgaon, Guwahati, Ludhiana, Nagpur, Noida, Pune and Thane. Ethos Limited has 7,000 different premium watches and 30,000 watches in stock at any given time.
As of December 31, 2021, the company's website had 21,844,216 visitor sessions.
Competitive Strengths:
- Access to a large base of luxury Customer.
- Deep understanding of digital and Omnichannel commerce.
- Strategically located and well-invested store network with an attractive in-store experience.
- Strong and long-standing relationships with luxury watch brands and luxury groups.
- Leadership position in an attractive luxury watch market.
- Experienced and committed management team with a proven track record.
Company Promoters
Yashovardhan Saboo, KDDL Limited and Mahen Distribution LimitedIPO Details
| IPO Opening Date | May 18, 2022 |
| IPO Closing Date | May 20, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹836 - 878 per equity share |
| Market Lot | 17 Shares |
| Min Order Quantity | 17 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹472.29 Cr |
| Fresh Issue | ₹375.00 Cr |
| Offer for Sale | ₹97.29 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.19x | - | - | 0.25x | 0.68x | 0.44x |
| Day 2 | 1.06x | - | - | 1.48x | 0.84x | 1.04x |
IPO Tentative Timetable
The Ethos Limited IPO open date is May 18, 2022, and the close date is May 20, 2022. The issue may list on May 30, 2022.
| IPO Open Date | May 18, 2022 |
| IPO Close Date | May 20, 2022 |
| Basis of Allotment Date | May 25, 2022 |
| Initiation of Refunds | May 26, 2022 |
| Credit of Shares to Demat Account | May 27, 2022 |
| IPO Listing Date | May 30, 2022 |
IPO Lot Size
The Ethos Limited IPO market lot size is 17 shares. A retail-individual investor can apply for up to 13 lots (221 shares or ₹194038).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 17 | ₹14926 |
| Maximum | 13 | 221 | ₹194038 |
IPO Promoter Holding
| Pre Issue Share Holding | 81.01% |
| Post Issue Share Holding | 61.65% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Dec-21 | 49,399.31 | 42,934.76 | 1,598.78 |
| 31-Mar-21 | 39,204.38 | 40,314.23 | 578.53 |
| 31-Mar-20 | 42,195.65 | 46,100.56 | -133.40 |
| 31-Mar-19 | 36,892.56 | 44,509.63 | 988.88 |
Objects of the Issue:
The company propose to utilise the Net Proceeds towards funding the following objects:
- Repayment or pre-payment, in full or in part, of all or certain borrowings availed by our Company.
- Funding working capital requirements of our Company.
- Financing the capital expenditure for establishing new stores.
- Financing the renovation of certain existing stores and upgradation of enterprise resource planning software.
- General corporate purpose.
Ethos Limited IPO Registrar:
KFin Technologies Limited
Ethos Limited IPO Lead Manager(s):
Emkay Global Financial Services Ltd, InCred Capital Financial Services Pvt Ltd
Company Contact Information:
Ethos Limited
Plot No. 3,
Sector- III, Parwanoo,
Himachal Pradesh -173 220
