The Ethos IPO (Initial Public Offering) opened for subscription on 18 May 2022 and will be open for bidding until 20 May 2022. Largest luxury and premium watch retailer aims to mobilize 472.29 crore from its public offer where 375 crore will come from new issue while Rs 97.29 crore will be raised through offer for sale (OFS). The public issue is offered at the price band of from 836 878 per equity share. Meanwhile, Ethos shares have opened in the gray market after the day’s bid. According to market observers, Athos shares are available at a premium 10 in the gray market today.
ethos ipo gmp today
According to market experts, ethos ipo gmp today is 10 means the gray market is expecting the Ethos IPO listing to be around 888 ( 878 + 10) Per Equity Share. He added that the pull back rally in the secondary market could further boost the gray market sentiment regarding the Ethos IPO.
Ethos IPO Membership Status
Since the first day of bidding, the Ethos IPO has been subscribed 0.27x while its retail portion has been subscribed 0.53x.
ethos ipo price band
The company has fixed the price band for its Public Offering: from 836 878 per equity share.
Ethos IPO Objectives
The company proposes to use the net proceeds of its public issue for debt repayment, financing its working capital, financing its capital expenditure, etc.
ethos ipo financial
Athos Limited reported total revenue of approx. 445 crore in FY19 while in FY20 and FY21, its total revenue was 461 crores and 403 crores respectively. In the first 9 months of FY22, Ethos Limited reported a total revenue of approx. 429 crores. Its profit after tax (PAT) for the period April to December 2021 is approx. 16 crores, which was around 5.78 crores in FY 2011.
Ethos IPO Review
Giving the long term subscribe tag to the Ethos IPO, Aastha Jain, Senior Research Analyst, Hem Securities, said, “The company is bringing the issue at the price band. 836-878 copy
Shares at P/E multiplier of 95x based on Annual FY22 EPS for 9 months post issue. The company being India’s leading luxury watch omnichannel retail player reaches out to a large base of luxury customers. The company is a leader in the lucrative luxury watch market with an early mover advantage in the proven pre-owned business. Also ethos being a founder led company backed by a professional management team. With strong growth prospects, we believe that the company is a candidate for long-term investment objective. Therefore, we recommend a “long-term subscription” to this issue.”
Recommending bidders to subscribe to the Ethos IPO, Anand Rathi report says, “At the high of the issue price-band (Rs 878), the stock is valued at 285x FY21 P/E and 55x FY21 EV/EBITDA And we believe in a high and growing market. Share and create unique brand partnerships to be positive.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.