Ethos IPO: Experts say that the shares of this IPO can be listed around the issue price or with a slight discount.
Ethos IPO: If you have also invested money in the IPO of the luxury watch selling giant Ethos, then you will be waiting for its listing. The listing of this IPO will happen on Monday, May 30. The company had fixed a price band of Rs 836-878 per share for this. At the same time, a target of raising Rs 472 crore has been set through this issue. Market experts say that the Ethos issue price looks expensive if compared with the company’s performance over the past one year. In such a situation, the shares of this IPO can be listed around the issue price or with a slight discount.
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What is the opinion of experts regarding listing
- Ayush Aggarwal, Senior Analyst, Swastika Investmart Ltd., on the listing of Ethos IPO, said, “The company does not have any listed peers, but despite the promising prospects, the valuations seem expensive. There is a lot of volatility in the stock market right now. Hence, the current market conditions are not conducive to high valuation issues.”
- Regarding the gray market, Agarwal further said that even in the gray market, there is not much movement regarding this IPO. Hence it is difficult to estimate the exact listing price. We expect a slowdown in listings due to higher valuations, but a positive surprise can also be seen amidst better market sentiments.
What are the signs of gray market
The shares of this IPO in the gray market are running in minus for the last few days. According to market watchers, the shares of Athos IPO are trading at minus 5 rupees in the gray market today. This means that on the listing day, this IPO can be listed at a price of Rs 873 (Rs 878-5) per share. Thus, this IPO is expected to be listed at a discount.
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The company’s revenue from operations in the financial year 2021 was Rs 386.57 crore. While the net profit was Rs 5.78 crore. The company has a good market share in the luxury and premium watch retail segment in India. The company has 50 physical retail stores across 17 cities in India in a multi-store format. It sells its products to customers through its website and social media platforms. The company’s portfolio includes 50 premium and luxury watch brands such as Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Carl F Bucherer, Tissot, Raymond Weil , Louis Moinet and Balmain.
(The suggestions given in the story are those of the respective research analyst. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)