IPO Wrap: Ethos IPO subscribed 1.04 instances on ultimate day led by non institutional traders and QIBs

Ethos IPO subscription standing: The preliminary public providing (IPO) of luxurious watch retailer Ethos was subscribed 1.04 instances on the ultimate day, in accordance with the information out there on the BSE.

The Rs 472.29 crore supply obtained bids for over 41.38 lakh (41,38,650) shares towards the problem measurement of over 39.79 lakh (39,79,957) shares, the information confirmed.

The shares that are to be allotted for the certified institutional patrons (QIBs) was subscribed 1.06 instances, whereas these of non institutional traders was subscribed 1.48 instances and that of retail particular person traders (RIIs) was subscribed 0.84 instances, the information confirmed.

Ethos IPO includes a recent problem of shares aggregating to Rs 375 crore and an offer-for-sale (OFS) of as much as 1,108,037 fairness shares.

The 3-day Ethos IPO had opened for subscription on Wednesday, May 18, 2022, and concluded at 5 pm as we speak. It has a value band of Rs 836-878 per share.

Before heading into the IPO, the corporate had raised over Rs 141 crore (Rs 1,41,68,50,550) from 9 anchor traders.

Ethos has the most important portfolio of premium and luxurious watches in India and retails 50 premium and luxurious watch manufacturers like 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. Under the model title Ethos, it opened its first luxurious retail watch retailer in January 2003 in Chandigarh.

Going forward, traders will now look ahead to the share allotment date of the problem. The finalisation of the premise of allotment for Ethos is predicted to happen on Wednesday, May 25, 2022, as per the data supplied within the crimson herring prospectus.