Ethos IPO: The share allotment process of the largest luxury and premium watch retailer company’s public issue is likely on Wednesday, May 25. Investors, who have applied for the public issue can check Ethos IPO allotment status online by logging in at the BSE website or at the official website of the registrar. The official registrar of Ethos IPO is KFin Technologies Limited. The company plans to use proceeds from the fresh issuance for repayment of debt, funding working capital requirements, opening new stores and general corporate purposes.
Ethos IPO: Subscription Status
The Rs 472 crore IPO received bids for 41,38,650 shares against 39,79,957 shares on offer, translating into 1.04 times subscription. The portion for non-institutional investors received 1.48 times subscription, while the category for Qualified Institutional Buyers (QIBs) got subscribed 1.06 times and Retail Individual Investors (RIIs) 84 per cent.
Ethos IPO: Financials
The watch market in India was valued at Rs 13,500 crores in Fiscal 2020 and is expected to grow at a CAGR of 10.6 per cent to reach Rs 22,300 crores by Fiscal 2025 (Source: ‘Industry Report on Premium and Luxury Watch Retail in India dated April 26, 2022. Ethos is the largest retailer for luxury watches in India, commanding a ~13 per cent market share of the organized market for premium and luxury watch retail. Retailer margins on bridge to the luxury segment ranges from 25 per cent-28 per cent, and luxury segments have a retailer margin of 20 per cent-35 per cent while retailer margins on premium watches range from 20 per cent to 25 per cent. ‘Industry Report on Premium and Luxury Watch Retail in India dated April 26, 2022, prepared by Technopak Advisors Private Limited’. According to a report from the research firm Anand Rathi Research, revenue of the company grew 3 per cent in FY20 and fell 16 percent in FY21 (impacted by Covid-19).
The EBITDA (earnings before interest, tax, depreciation and amortization) margins ranged from 13 percent to 2 percent while PAT (profit after tax) margins ranged from 10 percent to -0.3 percent over FY19-21. For the first nine months of FY22, revenue was Rs 420 crore and the EBITDA margin came at 10.9 percent.
Ethos IPO: GMP Today
As per market observers, Ethos shares premium (GMP) has slipped to discount of Rs 10 in the grey market today. The company’s shares are expected to list on stock exchanges BSE and NSE on Tuesday, May 30, 2022.
Ethos IPO: Share Allotment
How to check Ethos IPO allotment status on BSE
Step 1- Login at BSE link — bseindia.com/investors/appli_check.aspx
Step 2- Enter IPO name- Ethos
Step 3- Enter the IPO application number
Step 4- Enter PAN card details
Step 5 – Click at ‘I’m not a robot’
Step 6 – Click at ‘Submit’ button
How to check Ethos IPO allotment status on KFintech website
1) Login at the direct KFintech website — https://ris.kfintech.com/ipostatus/ipos.aspx
2) Select the IPO name (Ethos) from the drop-down- LIC IPO
3) Now select application number/DPID/Client ID/PAN
4) Enter the application number followed by the Captcha code
5) Now Click on the ‘Submit’ option and your IPO application status will become available on your computer monitor or Smartphone screen.
After finalisation of share allotment, initiation of refund is likely to begin on 26th May 2022, and credit of shares in the Demat account of lucky allottees is expected on 27th May 2022. The most likely Ethos IPO listing date is 30th May 2022.
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