Timex Group India Shares Plunge 8% as Promoter Announces Second OFS

• Timex Group India shares dropped nearly 8% after its promoter, Timex Group Luxury Watches BV, announced a second Offer for Sale (OFS) in six months.
• The promoter plans to sell an 8.93% stake at a floor price of ₹275 per share, a 22% discount to Friday's closing price.
• This OFS follows a 15% stake sale in June at ₹175 per share, which reduced promoter holding from 74.93% to 59.93%.
• Upon completion, the promoter's shareholding in Timex Group India is expected to further decrease to 51%.
• Despite the share decline, Timex Group India reported strong Q2 FY26 financials, with revenue up 40% and PAT up 70%.

Why It Matters: Timex Group India shares fell on promoter's second OFS, despite strong financial performance.