Watchmaker may reduce share offering size

Watchmaker may reduce share offering size

The company may consider a further issue of equity shares, including a private placement of up to 50 crore. If the placement is completed, the fresh issue size will be reduced.

There is a provision for the repayment of debt, a total of Rs 29.89 crore for the repayment of debt, Rs 236.75 crore for working capital requirements, Rs 33.27 crore for financing of new stores, and Rs 1.98 core for financing of enterprise resource planning ERP and general corporate purposes.

The revenue from operations stood at Rs 386.57 crore for the fiscal 2021, while the net profit was Rs 5.78 crore for the same period. The revenue from operations was Rs 223.31 crore and the net profit was Rs 3.75 crore for the six months ended September 2021.

In January 2003 it opened its first luxury retail watch store in Chandigarh under the brand Ethos, promoted by KDDL Ltd.

It has 50 physical retail stores in 17 cities in India in a multi store format, and offers an omnichannel experience to its customers through its website and social media platforms.

Lead managers are led by Emkay Global Financial Services and InCred Capital Wealth Portfolio Managers.