Ethos IPO: The process of allocating shares of the largest public issuance of luxury and premium watches is likely to be on Wednesday, May 25. Investors who have applied for the public offering can check the status of the Ethos IPO allotment online by logging into the BSE website or the registrar’s official website. The official registrar of Ethos IPO is KFin Technologies Limited. The company plans to use the proceeds from the new issuance for debt repayment, financing working capital requirements, opening new stores and general corporate purposes.
Ethos IPO: Subscription Status
The IPO of Rs 472 crore received bids for 41,38,650 shares against 39,79,957 shares offered, which translates into 1.04 times subscription. The Non-Institutional Investor section received 1.48 subscriptions, while the Qualified Institutional Buyers (QIBs) category received 1.06 subscriptions and Retail Individual Investors (RIIs) 84 percent.
Ethos IPO: Finance
The watch market in India was valued at Rs 13,500 crores in Fiscal 2020 and is expected to grow at a CAGR of 10.6 percent to reach Rs 22,300 crores by Fiscal 2025 (Source: Industry Report on Premium and Luxury Watch Retail in India of April 26, 2022. Ethos is the largest luxury watch retailer in India, with a market share of approximately 13 percent of the organized market for retail premium and luxury watches.Retailers’ margins on the bridge to the luxury segment range from 25 to 28 percent per annum, and luxury segments have retail margins of 20 to 35 percent, while retail margins on premium watches range from 20 to 25 percent.” Industry Report on Premium and Luxury Watch Retail in India of April 26, 2022, prepared by Technopak Advisors Private Limited.” According to a report by research firm Anand Rathi Research, the company’s revenue grew 3 percent in FY20 and fell 16 percent in FY21 ( affected by Covid-19).
EBITDA margins (earnings before interest, taxes, depreciation and amortization) ranged from 13 percent to 2 percent, while PAT (earnings after tax) margins for FY19-21 ranged from 10 percent to -0.3 percent. For the first nine months of FY22, revenue was Rs 420 crore and EBITDA margin was 10.9 percent.
Ethos IPO: GMP Today
According to market observers, Ethos’ share premium (GMP) has fallen today to a discount of Rs 10 in the gray market. The company’s shares are expected to be listed on the BSE and NSE stock exchanges on Tuesday, May 30, 2022.
Ethos IPO: Allotment of Shares
How to Check Ethos IPO Assignment Status for BSE?
Step 1- Login to the BSE link — bseindia.com/investors/appli_check.aspx
Step 2- Enter the IPO Name – Ethos
Step 3- Enter the IPO Application Number
Step 4- Enter PAN Card Details
Step 5 – Click on ‘I am not a robot’
Step 6 – Click the ‘Send’ button
How to Check Ethos IPO Assignment Status on KFintech Website?
1) Login to the direct KFintech website — https://ris.kfintech.com/ipostatus/ipos.aspx
2) Select the IPO name (Ethos) from the LIC IPO . drop-down list
3) Now select application number/DPID/Client ID/PAN
4) Enter the application number followed by the Captcha code
5) Now click on ‘Submit’ option and your IPO application status will be available on your computer monitor or smartphone screen.
Upon completion of the share allotment, the redemption is likely to begin on May 26, 2022, and the crediting of shares to the Demat account of lucky allotments is expected on May 27, 2022. The most likely IPO date for Ethos is May 30. 2022.
Read all the latest news, breaking news and IPL 2022 Live Updates here.