Timex Group OFS: Retail portion opens today; offer size doubled via greenshoe option

The offer-for-sale (OFS) by Timex Group Luxury Watches BV, the promoter of Timex Group India Ltd, would open shortly for retail participation today. This follows the promoter’s decision on Wednesday to exercise the oversubscription (greenshoe) option, significantly increasing the total stake on offer.

According to a regulatory filing, the promoter will sell an additional 7,511,250 equity shares — representing 7.5 per cent of the company’s total paid-up equity — over and above the base offer of 7,571,250 shares. This raises the total OFS size to 15,142,500 shares, or 15 per cent of the company’s equity as of June 20, 2025.

The OFS was open for non-retail investors yesterday and received a robust response, with BSE data showing it was subscribed 5.72 times. Retail investors can participate in the offer today through both BSE and NSE platforms.

The floor price has been fixed at Rs 175 per share, representing a steep 30.28 per cent discount to Timex Group India’s closing price of Rs 251 on Wednesday. The stock had hit its 5 per cent lower circuit in the previous session.

As of March 2025, the promoter held a 74.93 per cent stake in the company. For FY25, Timex Group India reported revenue of Rs 538.10 crore.

While the Timex brand remains central to its business in India, the company has been expanding its portfolio with growing contributions from Helix and TMX.

It also retails a variety of global fashion and luxury watch brands, including Guess, Gc, Nautica, Ted Baker, Furla, Adidas Originals, Versace, Salvatore Ferragamo, Philipp Plein and United Colors of Benetton (UCB).