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Ethos Limited IPO is a book built issue of Rs 472.29 crores. The issue is a combination of fresh issue of 0.43 crore shares aggregating to Rs 375.00 crores and offer for sale of 0.11 crore shares aggregating to Rs 97.29 crores.
Ethos Limited IPO bidding started from May 18, 2022 and ended on May 20, 2022. The allotment for Ethos Limited IPO was finalized on Wednesday, May 25, 2022. The shares got listed on BSE, NSE on May 30, 2022.
Ethos Limited IPO price band is set at ₹836 to ₹878 per share. The minimum lot size for an application is 17 Shares. The minimum amount of investment required by retail investors is ₹14,926.
Emkay Global Financial Services Ltd and Incred Capital Financial Services Pvt Ltd are the book running lead managers of the Ethos Limited IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Ethos Limited IPO RHP for detailed information.
| IPO Date | May 18, 2022 to May 20, 2022 |
| Listing Date | May 30, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹836 to ₹878 per share |
| Lot Size | 17 Shares |
| Total Issue Size | 5,379,108 shares (aggregating up to ₹472.29 Cr) |
| Fresh Issue | 4,271,071 shares (aggregating up to ₹375.00 Cr) |
| Offer for Sale | 1,108,037 shares of ₹10 (aggregating up to ₹97.29 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 19,078,163 |
| Share holding post issue | 23,349,233 |
Ethos Limited IPO offers 3,979,957 shares. 1,183,115 (29.73%) to QIB, 839,053 (21.08%) to NII, 1,957,789 (49.19%) to RII. 115,164 RIIs will receive minimum 17 shares and (sNII) and (bNII) will receive minimum 238 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 1,183,115 (29.73%) | NA |
| NII (HNI) Shares Offered | 839,053 (21.08%) | |
| Retail Shares Offered | 1,957,789 (49.19%) | 115,164 |
| Total Shares Offered | 3,979,957 (100%) |
Ethos Limited IPO opens on May 18, 2022, and closes on May 20, 2022.
| IPO Open Date | Wednesday, May 18, 2022 |
| IPO Close Date | Friday, May 20, 2022 |
| Basis of Allotment | Wednesday, May 25, 2022 |
| Initiation of Refunds | Thursday, May 26, 2022 |
| Credit of Shares to Demat | Friday, May 27, 2022 |
| Listing Date | Monday, May 30, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 20, 2022 |
Investors can bid for a minimum of 17 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,926 |
| Retail (Max) | 13 | 221 | ₹194,038 |
| Lot Size Calculator | |||
Yashovardhan Saboo, KDDL Limited and Mahen Distribution Limited are the company promoters.
| Share Holding Pre Issue | 81.01% |
| Share Holding Post Issue | 61.65% |
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:
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 49,399.31 | 39,204.38 | 42,195.65 | 36,892.56 | |
| Total Revenue | 42,934.76 | 40,314.23 | 46,100.56 | 44,509.63 | |
| Profit After Tax | 1,598.78 | 578.53 | -133.40 | 988.88 | |
The market capitalization of Ethos Limited IPO is Rs 2050.06 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 96 |
The company propose to utilise the Net Proceeds towards funding the following objects:
[Dilip Davda] The company has posted inconsistency in its financial performance and the super earnings for 9M-FY22 raise eyebrows as well as concern over sustainability going forward. It is asking for a higher price at the upper band against pre-IPO placement done at Rs. 826 in March 2022. Even if we arrive at the P/E based on its super earnings, the issue is highly priced at 96 plus and based on its FY21 earnings, it stands at 354. There is no harm in skipping this pricy IPO. Read detail review...
The Ethos Limited IPO is subscribed 1.04 times on May 20, 2022 5:00:00 PM. The public issue subscribed 0.84 times in the retail category, 1.06 times in the QIB category, and 1.48 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.06 |
| NII | 1.48 |
| Retail | 0.84 |
| Total | 1.04 |
| Listing Date | May 30, 2022 |
| BSE Script Code | 543532 |
| NSE Symbol | ETHOSLTD |
| ISIN | INE04TZ01018 |
| Final Issue Price | ₹878 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹878.00 |
| ₹830.00 |
| ₹774.00 |
| ₹839.65 |
| ₹802.60 |
| NSE |
|---|
| ₹878.00 |
| ₹825.00 |
| ₹773.00 |
| ₹839.95 |
| ₹803.10 |
Ethos Limited
Plot No. 3,
Sector- III, Parwanoo,
Himachal Pradesh -173 220
Phone: + 91 1792 232 462/233 402
Email: anil.dhiman@ethoswatches.com
Website: https://www.ethoswatches.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: ethosltd@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Ethos Limited IPO is a main-board IPO of 5,379,108 equity shares of the face value of ₹10 aggregating up to ₹472.29 Crores. The issue is priced at ₹836 to ₹878 per share. The minimum order quantity is 17 Shares.
The IPO opens on May 18, 2022, and closes on May 20, 2022.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ethos Limited IPO using UPI as a payment gateway. Zerodha customers can apply in Ethos Limited IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ethos Limited IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ethos Limited IPO opens on May 18, 2022 and closes on May 20, 2022.
Ethos Limited IPO lot size is 17 Shares, and the minimum amount required is ₹14,926.
You can apply in Ethos Limited IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Ethos Limited IPO will be done on Wednesday, May 25, 2022, and the allotted shares will be credited to your demat account by Friday, May 27, 2022. Check the Ethos Limited IPO allotment status.
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Ethos Ltd Result Presentation for March 31, 2022 https://www.bseindia.com/xml-data/corpfiling/AttachHis/F919E2A1-19D9-4F4E-B70C-42519835FC40-162957.pdf