Promoter Timex Group Luxury Watches BV offered a base lot of 45.09 lakh shares, representing 4.47% of the company’s equity. The offer included an oversubscription option for an additional 4.47%, taking the total potential divestment to 90.18 lakh shares, or 8.93%.
The floor price was set at Rs 275 per share, a discount of 21.82% to the stock’s closing price of Rs 351.75 on 26 December 2025.
The OFS opened on December 29 for non-retail investors. Retail investors participated on December 30, along with non-retail bidders carrying forward unallotted bids. The offer was conducted through a special window on the BSE and NSE during market hours.
On Day 1 (T-day), as of 15:30 IST, the OFS received subscription for 3,80,41,244 shares. It was subscribed 468.68% on the total non-retail offer size of 81,16,650 shares.
On Day 2 (T+1 day), the OFS received subscription for 45,65,547 shares. It was subscribed 50.62% on the total offer size of 90,18,500 shares.
As of September 2025, the promoter held a 59.93% stake in Timex Group India.
Timex Group India designs, manufactures, and markets innovative timepieces and is part of Timex Group, a privately held company headquartered in Middlebury, Connecticut, with multiple operating units and over 2,000 employees worldwide. In India, TGIL manages a portfolio of brands including Timex, Versace, Guess, Gc, Philipp Plein, Plein Sport, Ferragamo, Nautica, Ted Baker, adidas, and UCB. It retails via more than 5,000 offline trade stores and key online marketplaces, along with over 40 exclusive franchise stores under the Just Watches and Timex World banners.
On a standalone basis, net profit of Timex Group India rose 69.74% to Rs 30.23 crore while net sales rose 39.98% to Rs 243.67 crore in Q2 September 2025 over Q2 September 2024.