The IPO of Chandigarh-based Ethos Limited, one of the country's largest luxury and premium watch retail player consists of a fresh issue of equity shares aggregating to Rs 375 crore and an offer for sale (OFS) of up to 1,108,037 equity shares. The proceeds from its fresh issuance worth Rs. 29.89 crores will be utilised for the repayment or prepayment of borrowings, in full or part of all or certain borrowings for the company, Rs 234.96 crore for funding working capital requirements, Rs 33.27 crore for financing establishment of new stores and renovation of the certain existing stores, Rs 1.98 core for financing upgradation of ERP and general corporate purposes.
The initial public offering of Equity Shares (the "Offer") opened for subscription today i.e., Wednesday, May 18, 2022 and closes on Friday, May 20, 2022. The price band for the Offer has been determined at Rs 836 - Rs 878 per equity share.
The IPO will fetch Rs 472.29 crore at the upper end of the price band.
Investors can bid for a minimum of 17 equity shares and in multiples of 17 equity shares thereafter.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations.
The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.