Timex Promoter Sells 15% Stake in Indian Arm Through OFS

Imagine a company called Timex in India.

The main owner, like a parent, decided to sell some of their Timex shares to other people.

They sold 15% of the company's shares over two days.

This means the owner now owns less of the company.

The shares were sold at a lower price than what they were worth before.

Timex also makes and sells watches and has made a lot of money this past year.

This is like the owner getting some money while still keeping a big part of the company.