Ethos IPO Listing: Shares of extravagance observe retail player Ethos Ltd on Monday recorded with a markdown of 6% against the issue cost of ₹ 878.
New Delhi: Shares of extravagance and premium watch retail player Ethos Ltd were recorded on Monday with a markdown of 6% against the issue cost of ₹ 878.
The stock made its presentation at ₹ 830, enrolling a decay of 5.46 percent from the issue cost on the BSE. It further tumbled 9.24 percent to ₹ 796.80.
On the NSE, it recorded at ₹ 825, lower by 6%.
The underlying public proposal of Ethos was completely bought in by 1.04 times on the keep going day of membership on May 20.
The Initial Public Offering (IPO) had a new issue of value shares conglomerating to ₹ 375 crore and a proposition available to be purchased of 11,08,037 value shares.
The cost range for the ₹ 472.3-crore offer was ₹ 836-878 for every offer.
Continues from the new issuance will be used for reimbursement of the obligation, subsidizing working capital prerequisites, opening new stores and general corporate purposes.
Ethos has the biggest arrangement of premium and extravagance watches in India. It retails 50 premium and extravagance watch brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H Moser and Cie, Rado, Longines, Baume and Mercier, Oris SA, Corum, Carl F Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain.
Under Ethos’ image name, it opened its most memorable extravagance retail watch store in January 2003 in Chandigarh.