Retailers Ethos, Senco plan Rs.500-Cr IPOs

Private equity-backed luxury timepiece retailer Ethos and jewellery retailer Senco are planning initial public offerings (IPO) that could be launched in January next year. Issue sizes for the two IPOs could be about INR 500 crore each. Ethos is an authorised retailer for Swiss watch brands such as Rolex, Omega, Tag Heuer, Favre-Leuba and IWC. It is working with investment banks Emkay Global and Incred Capital for its IPO. Senco is working with IIFL. The two companies are backed by Ravi Adusumalli's Elevation Capital (formerly known as SAIF Partners).