Chandigarh-based Ethos Limited, one of the country's largest luxury and premium watch retail player with 13% share of the total retail sales in premium and luxury segment and a share of 20% in exclusively luxury segment in the financial year 2020, has garnered Rs 141.69 crore from 9 anchor investors ahead of its initial share sale that opens for public subscription on Wednesday. The company informed the exchanges that it has allocated 16,13,725 shares at Rs. 878 per share on Tuesday, May 17, 2022 to anchor investors.
ICICI Prudential FlexiCap Fund, Jupiter India fund, Saint Capital Fund, Cohesion MK Best Ideas Sub-Trust, Jupiter South Asia Investment Company Limited- South Asia Access Fund, Coeus Global Opportunities Fund, Alchemy Leaders of Tomorrow- Closed ended fund Series 2, UPS Group Trust, Nomura Singapore Limited ODI are amongst the investors that participated in the anchor book.
In addition, shares have been allocated to domestic fund - ICICI Prudential FlexiCap Fund that participated in the anchor book.
Out of the total allocation of 16,13,725 equity shares to the anchor investors, 5,29,601 equity shares (i.e 32.82% of the total allocation to Anchor Investors) were allocated to 1 domestic mutual fund through a total of 1 scheme.
Ethos has a sizeable portfolio of premium and luxury watches in India and retail to 50 premium and luxury watch brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Carl F. Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain. It enjoys a healthy market share of 20% in the luxury watch retail segment and 13% in the premium and luxury watch retail segment in India.
Under the brand name "ETHOS, it opened Its first luxury retail watch store in January 2003 in the Union Territory of Chandigarh by its Promoter, KDDL Limited, with an experience in the watch industry. It established strong relationships with the global watch brands and further strengthening its business.
In addition to the premium and luxury watch retail, it also undertakes retail of certified pre-owned luxury watches since Fiscal 2019. It has 50 physical retail stores in 17 cities in India in a multi store format, and offers an Omnichannel experience to its customers through its website and social media platforms. Through its Omnichannel approach it is premised on its endeavour to provide experience, content, customisation, reach and convenience to the customers through its website, which is the India's largest website for premium and luxury watches in terms in number of brands and watches offered.
Emkay Global Financial Services Limited and InCred Capital Wealth Portfolio Managers Private Limited are the Book Running Lead Managers and KFin Technologies Private Limited is the Registrar to the Issue.