Shares of Timex Group India declined by a massive 10% in early trade on Monday, December 29, as the two-day offer for sale (OFS) by the promoter of the company kicked off today, with the floor prices fixed at a steep 22% discount against the last closing price.
Timex Group India share price declined as much as 9.6% to the day’s low of ₹318.
Timex Group India OFS details
Timex Group India on Friday said that its promoter Timex Group Luxury Watches B V is looking to offload up to 4,509,250 equity shares of face value of ₹1 each, representing 4.47% of the total issued and paid-up share capital of the company.
The two-day OFS is open from Monday, December 29, to Tuesday, December 30. On the first day (T-day), only the non-retail investors can apply, while on the T+1 day, the OFS will open for retail investors and those non-retail investors who choose to carry forward their unallotted bids.
The promoter will exercise the option to additionally sell up to 4,509,250 equity shares (representing 4.47% of the total issued and paid-up share capital of the company) in case of oversubscription, taking the total OFS size to 8.93% of the paid-up share capital.
The floor price for Timex Group India OFS has been fixed as ₹275 apiece, a discount of 21.81% to its Friday’s closing price of ₹351.75 on the BSE.
On Friday, Timex Group India also announced the date for its board meeting to consider the financial results for the third quarter of the financial year 2025-26 (FY26).
“A meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, February 3, 2026, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ending on December 31, 2025,” Timex Group announced.
Timex Group India share price trend
Despite the massive fall seen in Timex Group India shares today, the small-cap stock remains positive on a longer time frame. It has risen 42% in six months, 59% on a year-to-date (YTD) basis and 60% in a year.
On a longer time frame of five years, it has emerged as a multibagger stock with a massive 1024% rise.