Timex Group Promoter's OFS Sees Strong Investor Response

The promoter of Timex Group India Ltd, which is Timex Group Luxury Watches BV from the Netherlands, decided to sell some of its shares to investors.

They initially planned to sell up to 45.09 lakh shares, but because so many people wanted to buy them, they decided to sell even more—up to 90.19 lakh shares.

This is about 8.93% of all the shares in the company.

Big investors wanted to buy more than four times the shares offered, and regular investors also showed a lot of interest.

After this sale, the promoter will own 51% of the company, down from 59.93%.

The price of the company's stock was ₹340.80 at the end of the day, which was higher than the minimum price set for the sale.