Business Standard

HNI interest sees Ethos IPO scrape through with just 1.03x subscription

Retail investor portion subscribed 82%, HNI was covered 1.48x and institutional investor category received 1.06x subscription

initial public offerings

BS Reporter Mumbai
Luxury watch retailer Ethos’ initial public offering (IPO) managed to scrape through with just 1.03 per cent subscription. The retail investor portion of the issue was subscribed 82 per cent, high networth individual portion was covered 1.48 times and institutional investor category received 1.06 times subscription.

Ethos’ IPO consisted of fresh fund-raise of Rs 375 crore and an offer for sale of Rs 97.3 crore. The price band for the issue is Rs 836-878 per share.

At the top end, the company is valued Rs 2,050 crore.

Based annualised earnings per share of Rs 9.13 for 2021-22, the price-to-earnings multiple

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First Published: May 20 2022 | 4:45 PM IST

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