Timex Group India shares drop 5% as Timex Group Luxury Watches to sell 15% stake in India arm via OFS
By Aditya Bhagchandani Published on June 25, 2025, 09:24 IST
Shares of Timex Group India Ltd fell 5% to Rs 251 on Wednesday after its promoter, Timex Group Luxury Watches BV, announced plans to offload up to 15% stake in the company through an offer for sale (OFS) route.
The OFS will open for non-retail investors on June 25 and for retail investors on June 26. The floor price has been fixed at Rs 175 per share, which is nearly 7% lower than the company's recent closing price on the BSE. This discount appears to have triggered selling pressure on the counter, causing a sharp decline in the share price during morning trade.
Timex Group Luxury Watches BV currently holds a 74.93% stake in Timex Group India as of March 2025. The base OFS size will involve 7.5% equity or around 75.71 lakh shares, with an additional 7.5% equity available under a green shoe option, making the total possible sale up to 1.51 crore shares.
The company, known for its popular Timex brand and a wide range of licensed international brands like Versace, Guess, Nautica, adidas, and UCB watches, retails through more than 5,000 offline stores and major e-commerce platforms. It also operates over 40 exclusive franchise stores under the Timex World and Just Watches banners.
At 9:20 AM today, Timex Group India shares were trading at Rs 251, down Rs 13.20 or 5% from the previous close of Rs 264.20. The stock's 52-week range stands between Rs 117.90 and Rs 289.90, with a market capitalization of Rs 25,340 crore.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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