Timex Group to Sell Up to 15% Stake via OFS: Share Price Hits Lower Circuit, Floor Price Set at Rs 175

Timex Group Luxury Watches BV, the promoter of Timex Group India Ltd, has announced plans to reduce its shareholding in the Indian arm by up to 15% through the Offer for Sale (OFS) route. This move is seen as a strategic step by the parent company to unlock value and provide more liquidity in the market.

Timex Group India Share Price Today

On Wednesday, shares of Timex Group India Ltd hit the 5% lower circuit, falling to Rs 251 per share on the Bombay Stock Exchange (BSE). By 1:32 PM, the stock continued to trade at this lower circuit limit, reflecting a full 5% decline from its previous close.

Timex Promoter Plans Major Stake Sale via OFS

The total offer comprises a base issue of 7.5% equity, amounting to approximately 75.71 lakh shares, with an additional 7.5% stake available under the green shoe option, which may be exercised based on demand. If fully subscribed, the OFS could involve up to 1.51 crore shares being offloaded.

"The promoter proposes to sell up to 75.71 lakh equity shares of face value of 1 each, representing 7.50 per cent of the total issued and paid-up equity share capital of the company on June 25, 2025 and on June 26,2025 with an option to additionally sell up to 75.71 lakh equity shares," stated the company in its regulatory filing.

The OFS will be conducted in two tranches. It will open first for non-retail investors on June 25, 2025, followed by retail investors on June 26, 2025. The floor price has been set at Rs 175 per share, offering nearly a 7% discount to the company's recent market closing price, making it potentially attractive for buyers looking for value-based entries.

As of March 2025, Timex Group Luxury Watches BV held a 74.93% stake in Timex Group India. This move will significantly reduce promoter shareholding, likely bringing it closer to regulatory thresholds while also improving the stock's free float.

About Timex Group India Ltd

Timex Group India Ltd is a well-established watchmaker known for its innovative and stylish timepieces. The company is a part of the globally recognized Timex Group, a privately held company headquartered in Middlebury, Connecticut, USA. The parent group operates multiple business units globally and employs over 2,000 people worldwide.

In India, Timex is one of the most trusted and widely known watch brands, catering to consumers across different price segments. In addition to its flagship brand, Timex Group India has the rights to design, manufacture, and market a diverse portfolio of licensed international watch brands. These include Versace, Guess, Gc, Philipp Plein, Plein Sport, Salvatore Ferragamo, Nautica, Ted Baker, Adidas Originals, UNLTD and United Colors of Benetton (UCB), as per the company's most recent annual report.

The company has a strong retail presence with its products available in over 5,000 multi-brand retail stores across the country, as well as key online marketplaces. Moreover, Timex operates more than 40 exclusive franchise outlets under banners such as Just Watches and Timex World, strengthening its premium and mid-range brand presence in the Indian market.