Timex Promoter to Offload Up to 15% Stake via OFS; Floor Price Set at ₹175

26 Jun 2025 , 10:49 AM

Timex Group Luxury Watches BV, the promoter entity of Timex Group India Ltd, is set to pare down its stake in the company by as much as 15% through an Offer for Sale (OFS) beginning this week.

The proposed sale includes a base offering of 7.5% equity, amounting to approximately 75.71 lakh shares, along with a green shoe option for an additional 7.5% stake. If fully subscribed, the total offering could reach 1.51 crore shares.

The OFS will open for non-retail investors on June 25, followed by retail participation on June 26. The floor price has been fixed at ₹175 per share, which represents roughly a 7% discount to Timex India’s recent market closing.

As per the latest shareholding data for March 2025, the promoter group Timex Group Luxury Watches BV held 74.93% in the listed entity. Post-offer, the promoter’s holding is expected to reduce significantly, depending on the subscription level.

Timex Group India is a well-established name in the Indian timepiece market, designing, assembling, and selling watches across price categories. It operates under the umbrella of Timex Group, a US-headquartered, privately held multinational with operations in over 80 countries and a workforce of more than 2,000 employees.

In addition to the Timex brand, the Indian arm manages a wide portfolio of licensed international watch labels, including Versace, Guess, Gc, Philipp Plein, Ferragamo, adidas, Ted Baker, Nautica, and United Colors of Benetton (UCB).

The company has a strong distribution network, selling through over 5,000 physical retail stores and across major e-commerce platforms. It also operates more than 40 exclusive brand outlets, under banners like Just Watches and Timex World, through franchise-led formats.

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