Timex Group India Shares Plunge 10% as Top Shareholder Sells Stake at 22% Discount

• Timex Group India shares hit a 10% lower circuit on December 29 after its top shareholder announced a stake sale.
• Promoter Timex Group Luxury Watches BV plans to sell up to 4.47% stake (45 lakh shares) via an Offer for Sale (OFS) from December 29-30.
• The OFS floor price is Rs 275 per share, a significant 22% discount from the previous closing price of Rs 351.75.
• An additional green shoe option could increase the total stake sale to 8.93% (90.09 lakh shares).
• Despite the recent drop, the stock has seen substantial long-term gains, rallying 1,088% in the past five years.

Why It Matters: Timex Group India's stock fell sharply due to a large discounted stake sale by its promoter.