Timex Group India OFS opens: Shares hit 5% lower circuit as promoter Timex Group Luxury Watches BV to sell 15% stake

The promoter plans to sell a 15% stake in its Indian entity.

The OFS is scheduled to open for non-retail investors on Wednesday, June 25, and for retail investors on Thursday, June 26.

The floor price for the OFS shall be ₹175 per equity share, which is 33% lower than Tuesday's closing price of ₹264.20, per a PTI report.

The shares of the company are listed on the BSE and not on the National Stock Exchange (NSE).

Timex Group India has received a copy of the revised notice of OFS from its promoter, Timex Group Luxury Watches BV, Netherlands, dated June 24, 2025, according to a regulatory filing.

"The promoter proposes to sell up to 75.71 lakh equity shares with a 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...," it said.

Timex Group Luxury Watches BV owns a 74.93% stake in Timex Group India as of March 2025.

In the financial year ended March 2025, Timex Group India generated revenue of ₹538.10 crore.

In India, the Timex brand is its prime focus and major business contributor; other brands such as Helix and TMX are also growing.

According to the company's last annual report, it also retails watches from other brands in the fashion and luxury segment, including Guess, Gc, Nautica, Furla, Ted Baker, Adidas Originals, Philipp Plein, Plein Sport, UNLTD, UCB, Versace and Salvatore Ferragamo.

Timex Group share price trend

Timex Group India is a part of the BSE SmallCap universe. According to BSE data, the stock has rallied over 60% over the past three months.

(With inputs from PTI)