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 Rs. 1 each, representing ....
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Timex Group Luxury Watches B V, the promoter of Timex Group India Limited, proposes to sell up to 7,571,250 equity shares (7.50% of paid-up capital) through an Offer for Sale on the BSE, with a floor price of Rs. 175 per share. The promoter also retains an oversubscription option to sell an additional 7,571,250 shares, taking the total potential sale to up to 15% of the company's equity. The offer will open on June 25, 2025 for institutional and non-retail investors, and on June 26, 2025 for retail investors, with Kotak Securities acting as the seller's broker. 10% of the shares are reserved for retail investors, and 25% must be allocated to mutual funds and insurance companies, subject to demand.
This is a notable promoter exiting event — a 7.5% to 15% block sale can create short-term supply pressure on the stock and may weigh on the share price around the OFS dates. Existing shareholders should note the floor price of Rs. 175 acts as a price reference point; institutional demand in the OFS will be a key indicator of how the market absorbs the supply.