Ethos Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 2,290,750 (50%) | — | ₹20,113 Cr |
| NII (HNI) | — | 687,225 (15%) | — | ₹6,034 Cr |
| Retail | — | 1,603,525 (35%) | — | ₹14,079 Cr |
| Σ Total | — | 4,581,500 (100%) | — | ₹402,256 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,926 |
| Retail (Max) | 13 | 221 | ₹194,038 |
| S-HNI (Min) | 14 | 238 | ₹208,964 |
| B-HNI (Min) | 67 | 1,139 | ₹1,000,042 |
Financial Statements Amount in Lakhs
| Metric | 31-Dec-21 | 31-Mar-21 | 31-Mar-20 |
|---|---|---|---|
| Revenue | 42,935 | 40,314 | 46,101 |
| Profit After Tax | 1,599 | 579 | -133 |
| Total Assets | 49,399 | 39,204 | 42,196 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Company – 29.89
- 2 Funding working capital requirements of the Company – 234.96
- 3 Financing the establishment of new stores and renovation of the certain existing stores – 33.27
- 4 Financing the upgradation of ERP – 1.98
- 5 General corporate purpose – 36.10
Company Overview
Ethos Limited is the largest luxury and premium watch retailer in India. The company delivers premium luxury watches through websites, social media platforms and physical stores. Ethos Limited operates on an omnichannel model and allows customers to order products either offline or online and have the flexibility of buying products at one store and returning at another or browsing product catalogues and placing orders online with doorstep delivery.
The company's watch portfolio has 50 premium brands including 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.
The company has 50 physical retail stores in 17 cities in India including New Delhi Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow, Gurgaon, Guwahati, Ludhiana, Nagpur, Noida, Pune and Thane. Ethos Limited has 7,000 different premium watches and 30,000 watches in stock at any given time.
As of December 31, 2021, the company's website had 21,844,216 visitor sessions.
Competitive Strengths:
- Access to a large base of luxury Customer.
- Deep understanding of digital and Omnichannel commerce.
- Strategically located and well-invested store network with an attractive in-store experience.
- Strong and long-standing relationships with luxury watch brands and luxury groups.
- Leadership position in an attractive luxury watch market.
- Experienced and committed management team with a proven track record.