Timex Group to sell 15 pc stake in India business via OFS at Rs 175/ share
Timex Group Luxury Watches BV
will sell 15 per cent share in its Indian entity through an Offer for Sale (OFS).
The floor price for the OFS shall be Rs 175 per equity share, which is 33 per cent lower than the Tuesday's closing price of Rs 264.20.
The OFS is scheduled to open for non-retail investors on Wednesday and for retail investors on Thursday. The offer will be open on BSE and the National Stock Exchange, it added.
Timex Group India
has received a copy of revised notice of OFS from its promoter Timex Group Luxury Watches BV, Netherlands, dated June 24, 2025, according to a regulatory filing.
"The promoter proposes to sell up to 75.71 lakh equity shares of face value of 1 each, representing 7.50 per cent of the total issued and paid-up equity share capital of the company on June 25, 2025 and on June 26,2025 with an option to additionally sell up to 75.71 lakh equity shares...," it said.
Timex Group Luxury Watches BV owns a 74.93 per cent stake in Timex Group India as on March 2025.
In the financial year ended March 2025, Timex Group India's revenue was at Rs 538.10 crore.
In India, Timex brand is its prime focus and major business contributor, other brands such as Helix and TMX are also growing.
According to the company's last annual report, it also retails watches from other brands in the fashion and luxury segment, including Guess, Gc, Nautica, Furla, Ted Baker, Adidas Originals, Philipp Plein, Plein Sport, UNLTD, UCB, Versace and Salvatore Ferragamo.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Double-decker flyover: Bangalore Metro Rail Corporation Ltd yet to get Rs 450cr from state
Bengaluru: Bangalore Metro Rail Corporation Ltd (BMRCL) is yet to receive the Rs 450 crore reimbursement promised by the state govt in 2017-18 for the Yellow Line's double-decker flyover between Ragigudda and Central Silk Board. The design change was approved on the assurance that the govt would bear the cost of the road flyover component. The city's first double-decker flyover — built after demolishing the Jayadeva flyover — took years to complete. In July 2024, BMRCL partially opened the 5km road flyover from Ragigudda to Silk Board, including ramps built around the Silk Board junction, for motorists travelling towards Silk Board. According to sources, BMRCL has repeatedly sought reimbursement, including during high-power committee (HPC) meetings, but funds haven't been released. In Namma Metro projects, the state and central govts share costs, but road components within Metro projects fall under the state's responsibility. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru | Gold Rates Today in Bengaluru | Silver Rates Today in Bengaluru Despite the pending payment, the state govt wants BMRCL to build 45km of double-decker flyovers under Phase III. The proposed stretches include Hebbal to JP Nagar 4th Phase along Outer Ring Road and Hosahalli to Kadabagere on Magadi Road. Phase III of Namma Metro is estimated to cost Rs 15,611 crore, with an additional Rs 9,000 crore required for the road flyovers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Use an AI Writing Tool That Actually Understands Your Voice Grammarly Install Now Undo Deputy chief minister DK Shivakumar has urged Prime Minister Narendra Modi to allocate Rs 8,916 crore for the project. Urban mobility experts argue that road flyovers don't reduce congestion and instead encourage private vehicle use, whereas Metro expansion should be prioritised to strengthen public transport. A source said, "The issue of reimbursement of expenses incurred towards execution of the road flyover as part of the Metro project has been going on for a long time. In the recent meeting, the issue was discussed in the HPC. It was noted that the work has helped ease traffic congestion for vehicles heading towards Silk Board and for those crossing from there towards HSR Layout and Hosur Road. The urban development department will take up the matter with the finance department for reimbursement. " Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Krishna Janmashtami Wishes ,, messages , and quotes !
Time of India
an hour ago
- Time of India
CUMTA to roll out app to integrate metro, bus, last-mile connectivity
Chennai: Chennai unified metropolitan transport authority (CUMTA) will roll out a single ticketing app in the first week of September to integrate Metro Rail, MTC buses, Namma Yatri autos, and cabs. MRTS and suburban trains will be added later this year. While cities like Mumbai and Bengaluru already have integrated ticketing for buses and metros, Chennai's app will make it the first initiative in India to bring cabs, autos, buses, metros, and trains onto one platform. For example, a commuter travelling from Nandanam to VR Mall can open the app, whose name is yet to be finalised, enter start and end points, and receive the best route. This could mean taking the metro to Koyambedu and then a Namma Yatri auto to the mall, with a single QR code generated for the entire journey. Once the commuter exits at Koyambedu, the auto will be booked automatically, with payment for the auto made separately. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Gold Rates Today in Chennai | Silver Rates Today in Chennai The project, costing around 8.75 crore in labour and establishment expenses, is backed by a primary contract with Namma Yatri and MoUs with MTC and CMRL. Agreements with Southern Railways for MRTS and suburban trains are in the pipeline. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo CUMTA aims to promote 'Mobility as a Service', encouraging people to choose public transport. With MTC's 34.5 lakh daily riders, suburban and MRTS rail's 9.27 lakh, Metro's 3.3 lakh, and over 7,000 Namma Yatri trips a day, the service will unite all modes in five phases. Phase two will integrate fares, and phase three will extend the service beyond the city. The app, initially called 'Anna-Ride Booking', will get its official name and logo next month after a meeting with chief minister M K Stalin and CUMTA's chairperson. Commuter Rithvik K, at Thousand Lights Metro, said, "This is great if implemented without bugs. Half the time I fear cancellations from drivers of cab aggregators. If this app books an auto automatically, that worry is gone." Principal architect in Urban Design Collaborative, Nirmal S John Britto, said, "Cities like London have a similar app called Citymapper, so this is a first for India. But like Google Maps, it must adapt to Indian realities. In the West, apps give real-time updates on road closures or repairs. We don't have that here. It should also recognise micro-streets in areas like Sowcarpet or Royapettah, which add historical value for first-time commuters. Without that, it may fall short." Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Krishna Janmashtami Wishes ,, messages , and quotes !
Time of India
an hour ago
- Time of India
IBM to support Maharashtra in developing quantum computing initiative
Global tech giant IBM on Wednesday said it will support Maharashtra in developing its quantum computing initiative. The US-headquartered company having a presence in the western state also signed a letter of intent with the Maharashtra government to identify opportunities of support for the state's quantum initiatives, as per a statement. IBM will offer expertise, which Maharashtra may use to help craft its own quantum initiative, and also contribute to the development of the state's quantum ecosystem through workshops and other skills development efforts. "Through our collaboration with IBM, we will harness quantum innovation to transform lives, while building a skilled talent pool to democratise its benefits and make them accessible to every citizen of the state," Maharashtra chief minister Devendra Fadnavis said. The company's general manager for Asia Pacific Hans Dekkers said the effort should be seen as a commitment to help Maharashtra build its own vibrant quantum ecosystem. IBM India and south Asia's Managing Director Sandip Patel welcomed the opportunity to engage with the state government on advancing quantum computing skills. Fadnavis on Wednesday inaugurated the tech major's client experience centre at a new facility in the country's financial capital which is designed to support Indian enterprises' use of AI, hybrid cloud, and quantum computing. The centre will serve as a place where experts from the company and partners can create solutions for India's business challenges. It will also have solutions and services from the company's AI portfolio, including the watsonx platform, data and automation, cybersecurity, hybrid cloud, and consulting-led transformation.
