Promoter Timex Group Luxury Watches BV is offering a base lot of 45.09 lakh shares, representing 4.47% of the company’s equity. The offer includes an oversubscription option for an additional 4.47%, taking the total potential divestment to 90.18 lakh shares, or 8.93%.
The floor price has been set at Rs 275 per share, a discount of 21.82% to the stock’s previous close of Rs 351.75 on December 26, 2025. The discounted pricing and large offer size weighed on investor sentiment.
The OFS opened on December 29 for non-retail investors. Retail investors can participate on December 30, along with non-retail bidders carrying forward unallotted bids. The offer is being conducted through a special window on the BSE and NSE during market hours.
By 1:42 p.m. on T Day, the non-retail portion was subscribed 113.61% of the base offer size. Bids were received for 46.11 lakh shares against 40.58 lakh shares on base non-retail offer.
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.