Shares of Timex Group India experienced a significant drop in early trading as the company’s promoter initiated a two-day offer for sale (OFS) at a substantial discount. The stock plummeted nearly 10% in the morning session, reflecting the selling pressure following the OFS announcement.
The share price of Timex Group India fell by as much as 9.6% to an intra-day low of Rs 318, driven by the promoter setting the OFS floor price at a notable discount compared to the stock’s previous closing level. The company’s promoter, Timex Group Luxury Watches B V, disclosed its intention to sell up to 45,09,250 equity shares with a face value of Rs 1 each, representing 4.47% of the total issued and paid-up share capital.
The OFS commenced on Monday and will run until Tuesday, December 30. Non-retail investors are permitted to place bids on the first day, while on the second day, retail investors can participate, along with non-retail investors carrying forward their unallotted bids. Additionally, the promoter retains the option to sell an additional 45,09,250 shares in case of oversubscription, potentially increasing the OFS size to 8.93% of the company’s paid-up share capital.
The floor price for the OFS has been set at Rs 275 per share, representing a discount of nearly 22% compared to Timex Group India’s closing price on the BSE on Friday. This discount, coupled with the announcement of the OFS, contributed to the downward pressure on the stock during Monday’s trading. Timex Group India also disclosed the date for its upcoming board meeting, scheduled for Tuesday, February 3, 2026, to review and approve the unaudited financial results for the quarter and nine months ended December 31, 2025.
Despite the sharp decline witnessed in the stock on the day, Timex Group India shares have shown robust performance over longer periods, with an increase of approximately 42% in the past six months and nearly 59% year-to-date. Over the last year, the stock has surged by around 60%.
