Bookbuilding IPO | ₹402 Cr | Listed at BSE, NSE | Wed, May 18, 2022 - Fri, May 20, 2022
Ethos IPO is a book build issue of ₹402.26 crores. The issue is a combination of fresh issue of 0.43 crore shares aggregating to ₹375.00 crores and offer for sale of 0.03 crore shares aggregating to ₹27.26 crores.
Ethos IPO bidding started from May 18, 2022 and ended on May 20, 2022. The allotment for Ethos IPO was finalized on May 25, 2022. The shares got listed on BSE, NSE on May 30, 2022.
Ethos IPO price band is set at ₹878 per share. The lot size for an application is 17. The minimum amount of investment required by an retail is ₹14,926 (17 shares) (based on upper price). The lot size investment for sNII is 14 lots (238 shares), amounting to ₹2,08,964, and for bNII, it is 67 lots (1,139 shares), amounting to ₹10,00,042.
Emkay Global Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Ethos IPO RHP for detailed Information.
IPO Open
Wed, May 18, 2022
IPO Close
Fri, May 20, 2022
Issue Price
₹878 per share
Market Cap (Pre-IPO)
₹2,050.06 Cr
| IPO Date | 18 to 20 May, 2022 |
| Listed on | Mon, May 30, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹836 to ₹878 |
| Issue Price | ₹878 per share |
| Lot Size | 17 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 45,81,500 shares (agg. up to ₹402 Cr) |
| Fresh Issue | 42,71,070 shares (agg. up to ₹375 Cr) |
| Offer for Sale | 3,10,430 shares of ₹10 (agg. up to ₹27 Cr) |
| Share Holding Pre Issue | 1,90,78,163 shares |
| Share Holding Post Issue | 2,33,49,233 shares |
| BSE Script Code / NSE Symbol | 543532 / ETHOSLTD |
| ISIN | INE04TZ01018 |
Ethos IPO comprises a total issue size of 45,81,500 shares. Out of which, 22,90,750 (50.00%) are allocated to QIB, 6,87,225 (15.00%) allocated to NII 16,03,525 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 22,90,750 | 50.00% | NA |
| − Anchor Investor Shares Offered | 16,13,725 | 35.22% | NA |
| − QIB (Ex. Anchor) Shares Offered | 6,77,025 | 14.78% | NA |
| NII (HNI) Shares Offered | 6,87,225 | 15.00% | NA |
| − bNII > ₹10L | 4,58,150 | 10.00% | 1,925 |
| − sNII < ₹10L | 2,29,075 | 5.00% | 962 |
| Retail Shares Offered | 16,03,525 | 35.00% | 94,325 |
| Total Shares Offered | 45,81,500 | 100.00% |
Investors can bid for a minimum of 17 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,926 |
| Retail (Max) | 13 | 221 | ₹1,94,038 |
| S-HNI (Min) | 14 | 238 | ₹2,08,964 |
| S-HNI (Max) | 66 | 1,122 | ₹9,85,116 |
| B-HNI (Min) | 67 | 1,139 | ₹10,00,042 |
Ethos IPO raises ₹141.69 crore from anchor investors. Ethos IPO Anchor bid date is May 17, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, May 17, 2022 |
| Shares Offered | 16,13,725 |
| Anchor Portion (₹ Cr.) | 141.69 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jun 24, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Aug 23, 2022 |
Ethos Limited is the largest luxury and premium watch retailer in India. The company delivers premium luxury watches through websites, social media platforms and physical stores. Ethos Limited operates on an omnichannel model and allows customers to order products either offline or online and have the flexibility of buying products at one store and returning at another or browsing product catalogues and placing orders online with doorstep delivery.
The company's watch portfolio has 50 premium brands including Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Carl F. Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain.
The company has 50 physical retail stores in 17 cities in India including New Delhi Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow, Gurgaon, Guwahati, Ludhiana, Nagpur, Noida, Pune and Thane. Ethos Limited has 7,000 different premium watches and 30,000 watches in stock at any given time.
As of December 31, 2021, the company's website had 21,844,216 visitor sessions.
Competitive Strengths:
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Company | 29.89 |
| 2 | Funding working capital requirements of the Company | 234.96 |
| 3 | Financing the establishment of new stores and renovation of the certain existing stores | 33.27 |
| 4 | Financing the upgradation of ERP | 1.98 |
| 5 | General corporate purpose | 36.10 |
| KPI | |
|---|---|
| Debt/Equity | 0.78 |
| RoNW | 3.72 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.18 | |
| P/E (x) | 96 | |
| Promoter Holding | 81.01% | 61.65% |
| Market Cap | ₹2,050.06 Cr. |
The Ethos Limited IPO is subscribed 1.04 times on May 20, 2022 5:00:00 PM (Day 3). The public issue subscribed 0.84 times in the retail category, 1.06 times in the QIB category, and 1.48 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.06 | 11,83,115 | 12,58,612 |
| NII | 1.48 | 8,39,053 | 12,43,754 |
| Retail | 0.84 | 19,57,789 | 16,36,284 |
| Total | 1.04 | 39,79,957 | 41,38,650 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 26.15 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.20 |
| 3 | Fees payable to Registrar to the Offer | 0.37 |
| 4 | Fees payable to the other parties in connection with the Offer | 4.05 |
| 5 | Others i) Listing fees, SEBI BSE & NSE processing fees, book building software fees and other regulatory expenses; ii) Printing and distribution of stationery; iii) Advertising and marketing expenses. Fees payable to legal counsels iv) Miscellaneous | 8.80 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹878.00 | ₹878.00 |
| Open | ₹830.00 | ₹825.00 |
| Low | ₹774.00 | ₹773.00 |
| High | ₹839.65 | ₹839.95 |
| Last Trade | ₹802.60 | ₹803.10 |
Ethos IPO is a main-board IPO of 45,81,500 equity shares of the face value of ₹10 aggregating up to ₹402 Crores. The issue is priced at ₹878 per share. The minimum order quantity is 17.
The IPO opens on Wed, May 18, 2022, and closes on Fri, May 20, 2022.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ethos IPO using UPI as a payment gateway. Zerodha customers can apply in Ethos IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ethos IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ethos IPO opens on Wed, May 18, 2022 and closes on Fri, May 20, 2022.
Ethos IPO lot size is 17, and the minimum amount required for application is ₹14,926.
You can apply in Ethos IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ethos IPO will be done on Wednesday, May 25, 2022, and the allotted shares will be credited to your demat account by Fri, May 27, 2022. Check the Ethos IPO allotment status.
The Ethos IPO listing date is on Mon, May 30, 2022.
