Ethos bucks trend as promoter group firm hikes stake

13 Jun 2022 , 02:43 PM

The shares were purchased through open market transaction. Post transaction, Dream Digital Technologys stake in Ethos increased to 0.27% from 0.03% earlier. Ethos is one of the countrys largest luxury and premium watch retail players with 13% share of the total retail sales in premium and luxury segment, and a share of 20% exclusively in the luxury segment in the financial year 2020. The company reported a net profit of Rs 15.98 crore and net sales of Rs 418.59 crore for the nine months ended on December 2021. Shares of Ethos were listed on the bourses on 30 May 2022. The scrip was listed at Rs 830, representing a discount of 5.47% to the initial public offer (IPO) price of Rs 878. The IPO of Ethos was subscribed 1.04 times. The issue opened for bidding on Wednesday (18 May 2022) and it closed on Friday (20 May 2022). The price band of the IPO was fixed at Rs 836-878 per share. Shares of Ethos were up 0.51% at Rs 790.60 in a falling market. It is currently down almost 10% over its issue price. Powered by Capital Market – Live News