Ethos IPO was a mainboard IPO that opened for subscription on 18 May 2022 and closed on 20 May 2022. The IPO price band was fixed at ₹836 to ₹878 per equity share, with a lot size of 17 shares.
Ethos Limited is one of India’s leading retailers of premium and luxury watches. The company operates an omnichannel retail model through its physical stores and online platforms and offers a wide portfolio of premium and luxury watch brands.
Important: The Ethos IPO was completed in May 2022 and the company’s shares are now listed on the BSE and NSE. The IPO information below is historical information for investors researching the company’s public issue.
Read Also: Ethos IPO GMP & Grey Market Premium
Ethos Company Overview
Ethos Limited was incorporated in 2007 as Kamla Retail Limited and subsequently changed its name to Ethos Limited in 2012. The company is engaged in the retail of premium and luxury watches in India.
Ethos operates through an omnichannel luxury retail model, combining physical retail stores with its online presence. Its portfolio includes several internationally recognised premium and luxury watch brands.
At the time of its IPO, Ethos had a strong presence in India’s luxury watch retail market and highlighted its access to luxury customers, digital and omnichannel capabilities, strategically located stores and long-standing relationships with luxury watch brands as key competitive strengths.
Ethos IPO Promoters
- Yashovardhan Saboo
- KDDL Limited
- Mahen Distribution Limited
These three were identified as the promoters of Ethos Limited in the company’s IPO prospectus.
Ethos Competitive Strengths
- Access to a large base of luxury customers
- Strong understanding of digital and omnichannel commerce
- Strategically located and well-invested store network
- Strong and long-standing relationships with luxury watch brands and luxury groups
- Leadership position in India’s premium and luxury watch market
- Experienced management team with a proven track record
Ethos IPO Date, Details & Price Band
| Ethos IPO Details | |
|---|---|
| IPO Opening Date | 18 May 2022 |
| IPO Closing Date | 20 May 2022 |
| IPO Type | Mainboard IPO – Book Building |
| Price Band | ₹836 – ₹878 per share |
| Final Issue Price | ₹878 per share |
| Fresh Issue | ₹375 Crore |
| Offer for Sale | ₹27.26 Crore |
| Total IPO Size | ₹402.26 Crore |
| Face Value | ₹10 per share |
| Lot Size | 17 Shares |
| Minimum Investment | ₹14,926 |
| QIB Allocation | 50% |
| Retail Allocation | 35% |
| Non-Institutional Allocation | 15% |
| Listing | BSE & NSE |
The final Ethos IPO comprised 45,81,500 equity shares. This included a fresh issue of 42,71,070 shares aggregating to ₹375 crore and an Offer for Sale of 3,10,430 shares aggregating to ₹27.26 crore. Therefore, the final IPO size was ₹402.26 crore.
Ethos IPO Market Lot
The Ethos IPO lot size was 17 shares. At the upper price band of ₹878 per share, the minimum investment was ₹14,926.
| Ethos IPO Market Lot | |||
|---|---|---|---|
| Application | Lots | No. of Shares | Amount |
| Minimum | 1 | 17 | ₹14,926 |
| Maximum Retail | 13 | 221 | ₹1,94,038 |
Retail investors could apply for a maximum of 13 lots, or 221 shares, subject to the applicable IPO rules. The minimum application was 17 shares and subsequent bids were in multiples of 17 shares.
Ethos IPO Financial Performance
The following consolidated financial information was reported in the IPO documents. Figures are in ₹ lakh.
| Ethos Financial Performance | |||
|---|---|---|---|
| Particulars | 31-Dec-2021 | 31-Mar-2021 | 31-Mar-2020 |
| Total Assets | ₹493.99 Cr | ₹392.04 Cr | ₹421.96 Cr |
| Total Revenue | ₹429.35 Cr | ₹403.14 Cr | ₹461.01 Cr |
| Profit After Tax | ₹15.99 Cr | ₹5.79 Cr | -₹1.33 Cr |
| Basic EPS | ₹8.74 | ₹3.18 | -₹0.75 |
The December 2021 financial period reported revenue of ₹429.35 crore and profit after tax of approximately ₹15.99 crore.
Ethos IPO GMP & Grey Market Premium
Ethos IPO GMP refers to the premium at which the IPO shares were reportedly traded in the unofficial grey market before listing. GMP is an unofficial indicator and should not be considered a guarantee of the listing price or future returns.
The Ethos IPO is already completed and listed. For historical and related IPO GMP information, visit:
Ethos IPO GMP, Kostak Rates & Subject to Sauda
Ethos IPO Prospectus
| Ethos IPO Documents | |
|---|---|
| DRHP | View DRHP |
| RHP / Prospectus | View Prospectus |
Ethos IPO Allotment Date & Listing Date
| Ethos IPO Timeline | |
|---|---|
| IPO Opening | 18 May 2022 |
| IPO Closing | 20 May 2022 |
| Allotment Date | 25 May 2022 |
| Refund Initiation | 26 May 2022 |
| Demat Credit | 27 May 2022 |
| Listing Date | 30 May 2022 |
The Ethos IPO allotment date was 25 May 2022 and the shares were listed on the BSE and NSE on 30 May 2022.
Registrar of Ethos IPO
KFin Technologies Limited was the registrar to the Ethos IPO.
KFin Technologies Limited
Selenium, Tower B, Plot No. 31 and 32,
Financial District, Nanakramguda,
Serilingampally, Hyderabad,
Telangana – 500032
Phone: +91 40 6716 2222
Email: [email protected]
Investor Grievance Email: [email protected]
Ethos Contact Details
Ethos Limited
Plot No. 3,
Sector III, Parwanoo,
Himachal Pradesh – 173220, India
Phone: +91 1792 232 462 / 233 402
Email: [email protected]
Website: Ethos Watches Official Website
Ethos IPO Lead Managers
- Emkay Global Financial Services Limited
- InCred Capital Financial Services Private Limited
Ethos IPO Objectives
The proceeds from the fresh issue were proposed to be used for several corporate purposes, including:
- Repayment or prepayment of certain borrowings
- Funding working capital requirements
- Establishment of new stores
- Renovation of existing stores
- Upgradation of enterprise resource planning (ERP) software
- General corporate purposes
Ethos IPO FAQ
What is Ethos IPO?
Ethos IPO was a mainboard IPO that opened on 18 May 2022 and closed on 20 May 2022. The final issue size was approximately ₹402.26 crore and the shares were listed on BSE and NSE.
What was the Ethos IPO price band?
The Ethos IPO price band was ₹836 to ₹878 per equity share. The final issue price was ₹878 per share.
What was the Ethos IPO size?
The final Ethos IPO size was ₹402.26 crore, comprising a fresh issue of ₹375 crore and an Offer for Sale of ₹27.26 crore.
What was the Ethos IPO lot size?
The Ethos IPO lot size was 17 shares. At ₹878 per share, the minimum investment was ₹14,926.
When did Ethos IPO open?
The Ethos IPO opened on 18 May 2022 and closed on 20 May 2022.
What was the Ethos IPO allotment date?
The Ethos IPO allotment date was 25 May 2022.
What was the Ethos IPO listing date?
The Ethos IPO listing date was 30 May 2022 on BSE and NSE.
What was the Ethos IPO GMP?
Ethos IPO GMP was an unofficial grey market indicator available before the IPO listing. Since the IPO has already been completed, historical GMP should not be treated as a current market indicator.
Who was the registrar of Ethos IPO?
KFin Technologies Limited was the registrar to the Ethos IPO.
Who were the promoters of Ethos Limited?
The promoters were Yashovardhan Saboo, KDDL Limited and Mahen Distribution Limited.
Where is Ethos Limited listed?
Ethos Limited is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
What does Ethos Limited do?
Ethos Limited is a premium and luxury watch retailer in India. The company operates through physical stores and online channels and offers a portfolio of premium and luxury watch brands.