Timex OFS: Promoter to exercise oversubscription option; stock falls 5%

Timex Group Luxury Watches BV, the promoter of Timex Group India Ltd, announced on Wednesday that it will exercise the oversubscription (greenshoe) option in its ongoing offer for sale (OFS), significantly expanding the size of the stake sale.

In a regulatory filing, the promoter stated that it would offload an additional 7,511,250 equity shares, representing 7.5 per cent of the company's total issued and paid-up equity share capital, over and above the base offer of 7,571,250 shares.

With this, the total offer size will be up to 15,142,500 equity shares, constituting 15 per cent of the company's equity as of June 20, 2025.

The OFS opened for non-retail investors today and will open for retail investors on Thursday, through both the BSE and NSE platforms. The OFS of Timex was subscribed 5.72 times in the non-retail portion today, BSE data showed.

The floor price for the offer has been fixed at Rs 175 per share, representing a 30.28 per cent discount to Timex Group India's closing price of Rs 251 on Wednesday. Today, the stock hit its 5 per cent lower circuit limit.

As of March 2025, Timex Group Luxury Watches held a 74.93 per cent stake in Timex Group India. In FY25, the company posted revenue of Rs 538.10 crore.

While the Timex brand remains its core focus in the Indian market, the company has seen rising contributions from other brands like Helix and TMX.

Additionally, it retails international fashion and luxury watch brands including Guess, Gc, Nautica, Ted Baker, Furla, Adidas Originals, Versace, Salvatore Ferragamo, Philipp Plein and UCB.