Ethos Limited IPO (Ethos Limited IPO) Detail

May 18, 2022 - May 20, 2022

Ethos Limited is the largest luxury and premium watch retailer in India. The company delivers premium luxury watches through websites, social media platforms and physical stores. Ethos Limited operates on an omnichannel model and allows customers to order products either offline or online and have the flexibility of buying products at one store and returning at another or browsing product catalogues and placing orders online with doorstep delivery.

The company's watch portfolio has 50 premium brands including 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.

The company has 50 physical retail stores in 17 cities in India including New Delhi Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow, Gurgaon, Guwahati, Ludhiana, Nagpur, Noida, Pune and Thane. Ethos Limited has 7,000 different premium watches and 30,000 watches in stock at any given time.

As of December 31, 2021, the company's website had 21,844,216 visitor sessions.

Competitive Strengths:

  1. Access to a large base of luxury Customer.
  2. Deep understanding of digital and Omnichannel commerce.
  3. Strategically located and well-invested store network with an attractive in-store experience.
  4. Strong and long-standing relationships with luxury watch brands and luxury groups.
  5. Leadership position in an attractive luxury watch market.
  6. Experienced and committed management team with a proven track record.

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (Rs in Lakhs)
  31-Dec-21 31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 49,399.31 39,204.38 42,195.65 36,892.56
Total Revenue 42,934.76 40,314.23 46,100.56 44,509.63
Profit After Tax 1,598.78 578.53 -133.40 988.88

Objects of the Issue:

The company propose to utilise the Net Proceeds towards funding the following objects:

  1. Repayment or pre-payment, in full or in part, of all or certain borrowings availed by our Company.
  2. Funding working capital requirements of our Company.
  3. Financing the capital expenditure for establishing new stores.
  4. Financing the renovation of certain existing stores and upgradation of enterprise resource planning software.
  5. General corporate purpose.

Ethos Limited IPO Details

Ethos Limited IPO Date May 18, 2022 to May 20, 2022
Ethos Limited IPO Face Value ₹10 per share
Ethos Limited IPO Price ₹836 to ₹878 per share
Ethos Limited IPO Lot Size 17 Shares
Issue Size5,379,108 shares of ₹10
(aggregating up to ₹472.29 Cr)
Fresh Issue4,271,071 shares of ₹10
(aggregating up to ₹375.00 Cr)
Offer for Sale1,108,037 shares of ₹10
(aggregating up to ₹97.29 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
QIB Shares Offered50% of the net offer
Retail Shares Offered35% of the net offer
NII (HNI) Shares Offered15% of the net offer
Company Promoters

Yashovardhan Saboo, KDDL Limited and Mahen Distribution Limited are the company promoters.

Ethos Limited IPO Timeline (Tentative Timetable)

Ethos Limited IPO opens on May 18, 2022, and closes on May 20, 2022. The Ethos Limited IPO bid date is from May 18, 2022 10.00 A.M. to May 20, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Ethos Limited IPO Opening Date May 18, 2022
Ethos Limited IPO Closing Date May 20, 2022
Basis of Allotment May 25, 2022
Initiation of Refunds May 26, 2022
Credit of Shares to Demat May 27, 2022
Ethos Limited IPO Listing Date May 30, 2022

Ethos Limited IPO Lot Size

The Ethos Limited IPO lot size is 17 shares. A retail-individual investor can apply for up to 13 lots (221 shares or ₹194,038).

Application Lots Shares Amount
Minimum 1 17 ₹14,926
Maximum 13 221 ₹194,038

Ethos Limited IPO Promoter Holding

Pre Issue Share Holding 81.01%
Post Issue Share Holding 61.65%

Ethos Limited IPO Review

The company has posted inconsistency in its financial performance and the super earnings for 9M-FY22 raise eyebrows as well as concern over sustainability going forward. It is asking for a higher price at the upper band against pre-IPO placement done at Rs. 826 in March 2022. Even if we arrive at the P/E based on its super earnings, the issue is highly priced at 96 plus and based on its FY21 earnings, it stands at 354. There is no harm in skipping this pricy IPO. Read detail review...

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Ethos Limited IPO Subscription Status (Bidding Detail)

The Ethos Limited IPO is subscribed 1.04 times on May 20, 2022 5:00:00 PM. The public issue subscribed 0.84 times in the retail category, 1.06 times in the QIB category, and 1.48 times in the NII category. Check Day by Day Subscription Details (Live Status)

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Ethos Limited IPO Prospectus

Ethos Limited IPO Rating

Rating:Rated 3.1 stars
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Ethos Limited IPO Listing Date

Listing Date Monday, May 30, 2022
BSE Script Code 543532
Listing In B Group of Securities
IPO Price ₹878 per share
Face Value ₹10 per share

Company Contact Information

Ethos Limited
Plot No. 3,
Sector- III, Parwanoo,
Himachal Pradesh -173 220
Phone: + 91 1792 232 462/233 402

Ethos Limited IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000

Ethos Limited IPO FAQs

Ethos Limited IPO is a main-board IPO of 5,379,108 equity shares of the face value of ₹10 aggregating up to ₹472.29 Crores. The issue is priced at ₹836 to ₹878 per share. The minimum order quantity is 17 Shares.

The IPO opens on May 18, 2022, and closes on May 20, 2022.

KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Ethos Limited IPO using UPI as a payment gateway. Zerodha customers can apply in Ethos Limited IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Ethos Limited IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Ethos Limited IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Ethos Limited IPO opens on May 18, 2022 and closes on May 20, 2022.

Ethos Limited IPO lot size is 17 Shares and the minimum order quantity is .

You can apply in Ethos Limited IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Ethos Limited IPO will be done on May 25, 2022, and the allotted shares will be credited to your demat account by May 27, 2022. Check the Ethos Limited IPO allotment status.

The Ethos Limited IPO listing date is on Monday, May 30, 2022.
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