Archive · 25 Jun 2025
Timex to Sell Stake in India Business via OFS
Timex, a watch company, is selling a part of its India business to new investors.
They're doing this through a process called an Offer for Sale (OFS), selling up to 15% of shares.
The initial sale is for 7.5% of the shares, with an option to sell an additional 7.5%.
The price per share is set at ₹175, a discount from the previous day's closing price.
The sale will start with non-retail investors on June 25th and then open to retail investors on June 26th.
Timex India makes watches for brands like Timex, Guess, and Versace.
Timex Group Luxury Watches to sell 15% stake in its India arm via Offer for Sale (OFS).
The OFS includes an initial 7.5% stake with an option for an additional 7.5%.
The floor price for the OFS is set at ₹175 per share, 33% lower than the previous day's closing price.
The OFS opens for non-retail investors on June 25, and for retail investors on June 26, 2025.
Timex Group India's revenue was ₹538.10 crore in the fiscal year ending March 2025.
- Who
- Timex Group Luxury Watches BV, the promoter of Timex Group India Ltd.
- What
- Timex Group Luxury Watches is selling up to 15% of its stake in Timex Group India Ltd. through an Offer for Sale (OFS).
- When
- The OFS opens for non-retail investors on June 25, and for retail investors on June 26, 2025.
- Where
- In India.
- Why
- No specific reason given, but it is a strategic move to sell part of their stake.
Company's Strategy
N/A
Strategic Initiative
Company's Strategy
Selling stake to potentially raise capital and enhance market positioning.
N/A
N/A
- Seller
- Timex Group Luxury Watches BV
- Stake Offered
- Up to 15%
- Initial Stake
- 7.5%
- Green Shoe Option
- 7.5%
- Floor Price
- ₹175 per share
- Closing Stock Price
- ₹264.20 (approximate)
- OFS Dates
- June 25 (non-retail), June 26 (retail)
- Company Revenue (FY25)
- ₹538.10 crore
