Overview

• On June 25, Timex Group Luxury Watches BV exercised its greenshoe option to offload an additional 7.5%, taking the total offer for sale to 15% of its 74.93% holding in Timex Group India Ltd
• The non-retail portion of the OFS was subscribed 5.72 times, signaling robust institutional demand
• The offer is priced at a floor of Rs175 per share, representing a roughly 7% discount to recent closing levels
• Retail investors will be able to bid when the tranche opens on June 26 through both BSE and NSE platforms
• The OFS announcement sent Timex Group India’s shares down 5%, triggering a lower circuit halt on June 25