IPO
Highlights
- Luxury watch seller company Ethos Limited listed
- The listing of luxury watch seller company Ethos declined.
- Shares listed with a decline of 6% against issue price of Rs 878
After incurring losses in LIC’s MahaIPO, another IPO has made a disappointing start in the stock market. The listing of luxury watch seller company Ethos Limited took place on Monday. Shares of Ethos were listed on the stock exchange on Monday with a decline of six per cent against its issue price of Rs 878.
The IPO of Ethos was subscribed 1.04 times on 20 May. But when this stock was listed in the market today, there was disappointment among the investors. The company’s stock was listed on BSE at Rs 830 per share, down 5.46 per cent against the issue price, then it further fell to 796.80, showing a decline of 9.24 per cent. On the NSE, it was listed at Rs 825, down six per cent.
The company issued fresh shares worth Rs 375 crore and made an offer for sale (OFS) of 11,08,037 equity shares under the IPO. Ethos had fixed a price range of Rs 836-878 per share for its issue of Rs 472 crore.
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