Timex Group India’s shares tumbled about 10% on Monday after the company’s promoter started a two‑day Offer for Sale (OFS) at a steep discount.
What happened today?
The stock fell as much as 9.6% to a low of ₹318 in early trade, reacting to the news that the promoter is selling shares at a price roughly 22% below the previous closing level.
Details of the OFS
- The promoter, Timex Group Luxury Watches B.V., will sell up to 4,509,250 shares, representing 4.47% of the company’s total share capital.
- The offer runs from Monday, Dec 29, to Tuesday, Dec 30. On the first day only non‑retail investors can apply; the second day opens to retail investors and any unfilled non‑retail bids.
- The floor price is set at ₹275 per share, about a 21.8% discount to Friday’s closing price of ₹351.75.
- If the issue is oversubscribed, the promoter can sell another 4,509,250 shares, bringing the total OFS size to 8.93% of the paid‑up capital.
Impact on the share price
The steep discount prompted a sharp sell‑off, sending the price down to ₹318 before stabilising. The discount level is the main driver of today’s dip.
Long‑term performance
- Up 42% over the past six months.
- Up 59% year‑to‑date.
- Up 60% over the last year.
- More than 1,000% gain over the past five years, making it a multibagger stock.
Key upcoming dates
- Board meeting scheduled for Feb 3, 2026 to consider and approve unaudited Q3 FY2025‑26 results.
Remember, this is perspective, not a prediction. Do your own research and consult a certified financial advisor before making any investment decisions.