Latest news with #TimexGroupLuxuryWatchesBV
Business Upturn
10 hours ago
- Business
- Business Upturn
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. Ahmedabad Plane Crash 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.
&w=3840&q=100)
Business Standard
10 hours ago
- Business
- Business Standard
Timex Group hits 5% lower circuit as OFS opens for non-retail investors
Timex Group, known for making watches, shares hit a 5 per cent lower circuit in trade on Wednesday, at ₹251 per share on BSE. At 9:30 AM, Timex Group share price was trading 5 per cent lower at ₹251 per share on the BSE. In comparison, the BSE Sensex was up 0.49 per cent at 82,460.71. The company's market capitalisation stood at ₹2,533.85 crore. Its 52-week high was at ₹289.9 per share and 52-week low was at ₹117.9 per share. What led to a slump in Timex Group stock? The selling pressure on the counter came after the company's offer for sale (OFS) opened for non-retail investors today. The promoter, Timex Group Luxury Watches B V, has proposed to sell 7,571,250 shares of face value of ₹1 each, representing 7.5 per cent of the total issue. The promoter has also offered to sell additional 7,571,250 shares (representing 7.5 per cent of the total issued) under "Oversubscription Option". The floor price for the offer is ₹175 per share. The OFS will open for retail investors on Thursday, June 26, 2025. "Timex Group Luxury Watches B V is the promoter of the company (the "Promoter" or "Seller"). The promoter proposes to sell up to 7,571,250 Equity Shares of face value of~ 1 each, representing 7.5 per cent of the total issued and paid-up Equity Share capital of the Company ("Base Offer Size"), on June 25, 2025 ("T Day") (for non-Retail Investors only) and on June 26, 2025 ("T+1 Day") (for Retail Investors and for non-Retail Investors who choose to carry forward their unallotted bids from T Day), with an option to additionally sell up to 7,571,250 Equity Shares (representing 7.5 per cent of the total issued and paid-up Equity Share capital of the Company) the "Oversubscription Option"," the filing read. About Timex Group Timex Group designs, manufactures, and markets innovative timepieces and jewelry globally. Timex, founded in 1854, has expanded to become Timex Group, a privately-held company, with several operating units and over 5,000 employees worldwide. One of the largest watch makers in the world, Timex Group companies include the Timex Business Unit (Timex, Timex Ironman, Nautica, Marc Ecko and Helix); Timex Group Luxury Watches (Salvatore Ferragamo); Sequel (Guess, Gc) and Vertime (Versace).
