Ethos Share Listing: Listing of shares today, know how much profit can be made to investors

Ethos Share Listing: The listing of shares of luxury watch maker Ethos Ltd is scheduled for today, May 30. The issue of the company opened on May 18 and closed on May 20. The issue of the company did not see much investor interest. The issue of the company was filled only 1.04%. While the quota of retail investors was subscribed 84%.

Even in the gray market, investors are not showing much interest in Ethos shares. gray market tracker ipo watch According to this, even during the IPO, there was not much movement in the stock of Ethos. No significant premium has been shown on this stock. For the last few days, this stock is trading with flat or discount. With this, investors today expect little listing gains.

premium is weak

Vineet Bolinjkar, head of research at Ventura Securities, said the gray market had earlier shown a slight premium. But, now it is being traded at a discount. There is a discount of around Rs 5-10 per share. He said that there is a lot of volatility in the stock market too. In such a situation, this share can be listed in the range of Rs 868-873 with a discount.

Initially, brokerage firms had responded well to this IPO. He advised investors to invest in this IPO for a long period. However, he had said that due to rising inflation, people are being very careful in spending. This can have an impact on the business of Ethos.

Piyush Chajed, Research Associate, Choice Broking said, “We had advised not to invest in this issue. This is because the company’s performance during the financial year 2019-21 has not been encouraging. Its sales volumes and profitability have declined. Got to see.”

This company was registered on November 5, 2007 under the name ‘Kamla Retail Limited’. It is India’s largest luxury and premium watch retailer. It accounts for 13 per cent of the total sales in the premium and luxury segments. It sells its products through websites, social media platforms and physical stores.

How is the business of the company?

The company’s watch portfolio comprises 50 premium brands. These include big brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari. It has 50 physical retail stores in 17 cities. It sells around 7,000 different premium watches. It has 30,000 watches in its stock at any given time.

Its revenue in the financial year 2020-21 stood at Rs 386.57 crore. A year ago it was Rs 457.85 crore. Thus, on a year-on-year basis, revenue has declined by 15.6%. Its profit stood at Rs 5.79 crore in the financial year 2020-21. A year ago, the company had a loss of Rs 1.33 crore.

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