The shares of this outstanding watch producer hit a 5 % decrease circuit within the buying and selling session after the corporate’s promoter introduced plans to promote 15 % of the agency through the supply on the market (OFS) route.
With a market capitalization of Rs 2,533.85 crore, the shares of Timex Group India Ltd have been buying and selling at Rs 251.00 per share, reducing round 5 % as in comparison with the earlier closing worth of Rs 264.20 per share.
The shares of Timex Group India Ltd have seen bearish motion after Promoter Timex Group Luxurious Watches BV, Netherlands, will probably be promoting as much as a 15 % stake in Timex Group India through an Provide-for-Sale (OFS) on June 25–26, together with the bottom supply measurement of seven.5 % (75.71 lakh shares), an extra 7.5 % fairness beneath a inexperienced shoe possibility, taking the potential complete to 1.51 crore shares. The OFS will open for non-retail traders on June 25 and for retail traders on June 26. The ground worth for the supply is Rs 175 per share.
Wanting ahead to the corporate’s monetary efficiency, income elevated by 47 % from Rs 92.06 crore in Q4FY24 to Rs 135.41 crore in Q4FY25. Additional, throughout the identical timeframe, internet revenue elevated by 28 % from Rs 7 crore to Rs 9 crore.
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Timex Group India Ltd has over 15 international manufacturers, 2.7 billion equipment offered, and three,000 workers, the corporate continues to design and distribute iconic timepieces by means of 120 distributors worldwide, honoring its wealthy heritage and innovation.
The corporate boasts a strong international distribution community with 5 regional hubs, 9 international associates, and over 120 distributors. With greater than 22,000 factors of sale worldwide, it ensures sturdy international attain whereas sustaining native relevance, enabling seamless model localization and accessibility throughout main worldwide markets.
Timex Group India Restricted is an India-based firm that’s engaged within the enterprise of producing and buying and selling of watches and rendering of associated after-sales service. The Firm additionally supplies data and expertise assist companies to the group corporations.
Written by Abhishek Singh
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