Shares of Athos Open at a Discount 825 per share level on NSE and 830 each on the BSE, down nearly 6 per cent from its upper price band 878 per share. However, the weakness in the stock continued further as the Ethos share price declined further. 800 level forming intraday low 792 per share on BSE. According to stock market analysts, the price of Ethos shares was high and the weakness in the stock may continue for a few more sessions. He said the stock could go down from 640 650 levels. He advised allottees to exit on a big jump, while he advised strictly position investors to avoid any fresh positions in the counter.
to speak on ethos share listingSantosh Meena, Head of Research, Swastika Investmart Ltd said, “Ethos Ltd has opened at Rs 828 i.e. 6% lower than its issue price. The negative listing of the company was attributed to rich pricing, prevailing market sentiments and lack of investors May be interested. The company is one of the largest sellers of luxury watches in India with a loyal customer base, omnichannel distribution network, long standing relationships with the best luxury watchmakers and experienced promoters.”
While advising Ethos share allottees to exit on bounce back, Ravi Singhal, Vice Chairman, GCL Securities said, “Allottees are advised to exit on any strong rebound from their intraday lows, while new investors are advised to exit the counter. Refrain from taking any fresh positions in. Stock is looking weak and may go down from 640 650 each level. Positional investors can review the position of Ethos shares at these levels and only then should any over the counter position be taken.”
For allottees who have a long-term outlook on Ethos shares, Santosh Meena, Swastika Investmart said, “High valuations, lack of exclusive agreements with watchmakers, inventory heavy operations make the issue suitable only for long-term investors. that have high-risk appetite.”
public offering There was a fresh issue of equity shares aggregating to 472.29 crores 375 crore and offer for sale of 11,08,037 equity shares. The price band of the IPO was fixed by: 836-878 per share.
The largest luxury and premium watch retailer has already clarified that the proceeds from the new issuance will be used to pay off debt, meet working capital requirements, open new stores and for general corporate purposes.