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Ethos IPO

Ethos Ltd.

₹14,212 /17 sharesMinimum Investment

Ethos IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
18 May '22 - 20 May '22₹14,21217₹836 - ₹878
Issue SizeIPO Doc
472.29Cr
RHP PDF

Subscription Status As on 20 May '22, 5:00 PM

  • Retail Individual Investor
    0.84x
  • Non-Institutional Investor
    1.48x
  • Qualified Institutional Buyers
    1.06x
  • Total
    1.04x

About Ethos

Ethos is a luxury and premium watch retail player selling products through online and physical presence. The company has
Parent Organisation
Ethos Ltd.
Founded
2007
Managing Director
Yashovardhan Saboo

Strengths & Risks

  • Access to a large base of luxury customers - as of December 31, 2021 access to a High Net Worth Individual (HNI) customer base stood at over 2,76,000.
  • Access to digital platform of the company increased over the calendar years i.e. 1.55 crore number of sessions in 2019 to 2.15 crore number of sessions in December 31, 2021.
  • Physical presence with 50 retail stores coupled with website presence.
  • Flagship stores are high-street stores allowing lower mall dependency.
  • Strong and long-standing relationships with luxury watch brands.
  • The company is the largest retailer for luxury watches in India commanding 20% market share of the organised market for luxury watch retail in India (Source: Technopak Report*)
  • Higher margins for luxury and above watch segments.
  • Portfolio of 50 premium and luxury watch brands.
  • The company does not have definitive agreements for the supply of products or fixed terms of trade with the majority of its suppliers.
  • Dependent on watch brands for the manufacturing of all the products sold on the platform.
  • There are outstanding legal proceedings involving the company, its directors, and its promoter – KDDL Limited.
  • Sales for the six months period ended September 30, 2021, were concentrated in certain Tier I cities in India in a relatively small number of stores.
  • The company does not own the “ETHOS” and “SUMMIT” brands/trademarks as the same are owned by KDDL Limited.
  • The growth of online retailers may create pricing pressures, increase competition, and adversely affect the business.
  • Restated loss for the year stood at Rs 1.33 crores in Fiscal 2020.
  • Premises of all of the company’s stores and warehouses are leased.
  • business is subject to seasonality.
  • The company has secured loans that are repayable on demand and have other restrictive conditions.
  • The company has entered into and may continue to enter into, related party transactions which may not always enable it to achieve the most favorable terms.
  • Managing Director, Yashovardhan Saboo is on the Board of Directors of Joint Venture i.e. Pasadena Retail Private Limited, whose business is similar to Ethos.
  • *The company commissioned and paid for an industry report from Technopak specifically for the purpose of the IPO.

Financials

*All values are in Rs. Cr
No Graph Data To Display
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