Promoter Stake Sale: Stock hits lower circuit after OFS for 45 lakh shares

Synopsis: The share of the company fell by 10 percent today after its promoter rolled out for offer for sale with a base size of 45,09,250 equity shares with a further oversubscription option.

The shares of the company engaged in the manufacturing and trading of watches and the rendering of related after-sales service, were in focus after they announced the sale of stake up to 8.93 percent, via OFS.

With a market capitalization of Rs 3,256 crore, Timex Group India Ltd’s shares on Monday made a day low of Rs 316.60, up by 10 percent from its previous day’s closing price of Rs 351.75  per share. The shares have given a return of 1,112 percent over a period of five years.

Timex Group Luxury Watches B.V., the promoter of Timex Group India Limited, has decided to reduce its stake by selling up to 4.51 million shares, or 4.47 percent of the company, through an Offer for Sale (OFS) on the stock exchanges. The promoter has also kept the option open to offload an equal number of additional shares in case of strong demand, which could take the total stake sale to 8.93 percent.

The OFS will run over two days, with institutional and other non-retail investors bidding on December 29, 2025, followed by retail investors on December 30, 2025. Shares will be offered at a floor price of Rs 275 apiece. Around 10 percent of the issue is reserved for retail investors, while at least 25 percent of the non-retail portion is set aside for mutual funds and insurance companies, provided valid bids are received. Kotak Securities has been appointed as the broker for the sale.

The OFS is expected to alter the company’s shareholding structure, which as of September 2025 comprised 59.93 percent promoter ownership, 37.98 percent held by public shareholders, with the remaining stake owned by institutional investors such as FIIs and DIIs.

Timex Group India Limited is a group company of Tanager Group B.V. (formerly known as Timex Group B.V.). The Co is engaged in the manufacturing and trading of watches and the rendering of related after-sales service. The Company also provides information and technology support services to the Group Companies.

Financial performance, revenue from operations grew by 40 percent to Rs 244 crore, corresponding to the same quarter in the last financial year. EBDIT grew by 69 percent to Rs 42.5 crore in Q2 FY26 from Rs 25.1 crore in Q2 FY25. Accompanied by a Net profit growth  of 70 percent YoY to Rs 30.2 crore.

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