Public Market

IPO

Watch maker Ethos raises Rs 142-Cr from anchor investors

MoneyControl  

Premium watch retailer Ethos mopped up Rs 141.68 crore from nine anchor investors, ahead of its IPO. The company has finalised the allocation of 16.14 lakh equity shares to anchor investors at a price of Rs 878 per share. Ethos intends to raise nearly Rs 472 crore through the public issue that comprises a fresh issue of equity shares aggregating up to Rs 375 crore and an offer for sale of 1,108,037 equity shares aggregating up to Rs 97.29 crore by the shareholders and promoters. The price band for the offer has been fixed between Rs 836 - 878 per equity share of face value of Rs 10 each. Of the total offer size, 50 percent of the net offer will be reserved for qualified institutional buyers, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors.