The shares of this prominent watch manufacturer hit a 5 percent lower circuit in the trading session after the company’s promoter announced plans to sell 15 percent of the firm via the offer for sale (OFS) route.
With a market capitalization of Rs 2,533.85 crore, the shares of Timex Group India Ltd were trading at Rs 251.00 per share, decreasing around 5 percent as compared to the previous closing price of Rs 264.20 per share.
The shares of Timex Group India Ltd have seen bearish movement after Promoter Timex Group Luxury Watches BV, Netherlands, will be selling up to a 15 percent stake in Timex Group India via an Offer-for-Sale (OFS) on June 25–26, including the base offer size of 7.5 percent (75.71 lakh shares), an additional 7.5 percent equity under a green shoe option, taking the potential total to 1.51 crore shares. The OFS will open for non-retail investors on June 25 and for retail investors on June 26. The floor price for the offer is Rs 175 per share.
Looking forward to the company’s financial performance, revenue increased by 47 percent from Rs 92.06 crore in Q4FY24 to Rs 135.41 crore in Q4FY25. Further, during the same time frame, net profit increased by 28 percent from Rs 7 crore to Rs 9 crore.
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Timex Group India Ltd has over 15 global brands, 2.7 billion accessories sold, and 3,000 employees, the company continues to design and distribute iconic timepieces through 120 distributors worldwide, honoring its rich heritage and innovation.
The company boasts a robust global distribution network with 5 regional hubs, 9 global affiliates, and over 120 distributors. With more than 22,000 points of sale worldwide, it ensures strong global reach while maintaining local relevance, enabling seamless brand localization and accessibility across major international markets.
Timex Group India Limited is an India-based company that is engaged in the business of manufacturing and trading of watches and rendering of related after-sales service. The Company also provides information and technology support services to the group companies.
Written by Abhishek Singh
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