Timex Group Luxury Watches to sell 15% stake in India arm via OFS

Timex Group Luxury Watches BV, the primary promoter of Timex Group India Ltd, has announced its intention to sell up to 15% of its stake in the company using the Offer for Sale (OFS) route. This offering includes an initial 7.5% equity stake, equivalent to 75.71 lakh shares. Additionally, there is a green shoe option available for another 7.5%, potentially increasing the total to 1.51 crore shares. 

The set floor price for this sale is Rs 175 per share, representing a roughly 7% discount compared to the recent closing stock price, CNBC TV18 reported. This pricing strategy is designed to appeal to a broad range of investors, encouraging strong participation in the sale. The move is part of a broader strategy to optimize shareholder value and enhance market positioning.

The OFS process is scheduled to open for non-retail investors on June 25 (Wednesday) and for retail investors on June 26. As of March 2025, Timex Group Luxury Watches BV held a 74.93% stake in Timex Group India. The base price of Rs 175 per share has been strategically set to draw investor interest by offering a slight discount, thus acting as an incentive. This approach is often utilised to ensure a successful sale and reflects the company’s confidence in its robust market position. 

Timex Group India Ltd is a well-known entity in the watchmaking industry, responsible for designing, manufacturing, and marketing a wide variety of timepieces. It operates as a part of the Timex Group, a global corporation headquartered in Middlebury, Connecticut, which employs over 2,000 people worldwide. Timex Group India Ltd manages a broad spectrum of brands, including licensed names such as Versace, Guess, and Nautica. It maintains a significant retail presence with over 5,000 offline trade stores and exclusive franchise outlets. This expansive network and diverse brand portfolio underscore its strong market presence and capacity to serve varied consumer preferences. 

Recently, shares of Timex Group India Ltd closed at Rs 262.50, marking a 1.43% increase. This uptick indicates a positive market response to the company’s strategic maneuvers and brand expansion initiatives. The decision to sell a portion of its stake through the OFS may be viewed as part of a broader strategy to realign its market presence and shareholder composition. This move is expected to provide the company with additional resources to enhance its product range and expand its market outreach further. Financial strategies like these are crucial for sustaining competitive advantage and ensuring long-term growth.