Timex Group India Promoter Sells Stake: OFS at 21.8% Discount

• Timex Group Luxury Watches BV to sell up to 8.93% stake in Timex Group India Ltd via Offer For Sale (OFS).
• Floor price set at ₹275 per share, a 21.8% discount from the previous closing price of ₹351.75.
• Total OFS size is ₹248 crore, comprising a base size of ₹124 crore and an equal green shoe option.
• Promoter stake will reduce to approximately 51% after the completion of the OFS.
• The OFS aims to increase share liquidity and offers investors an opportunity to acquire shares at a discounted price.

Why It Matters: Timex Group India's promoter is selling up to 8.93% stake at a significant discount via OFS.