Luxury watch seller player Ethos on Wednesday said that its IPO (initial public offering) will open on May 18. The price range has been fixed at Rs 836-878 per share for the issue totaling Rs 472 crore.
The company said in a press conference held via video conference that the IPO will close on May 20. The IPO comprises fresh issue of equity shares worth Rs 375 crore and Offer for Sale (OFS) of 1,108,037 equity shares.
The public issue is expected to fetch Rs 472.3 crore at the upper end of the price band. The proceeds through the Player Ethos issue will be used for debt repayment, working capital requirements, opening of new stores and general corporate purposes.