Ethos Listing: Shares Of Ethos Listed In The Stock Markets

Ethos Listing: Shares of Ethos listed in the stock markets, a setback for those who bought IPO.

Shares of luxury and premium watch retailer Ethos Ltd were listed with a decline of 6 percent against the issue price of Rs 878 on Monday.

The stock made its debut at Rs 830, registering a decline of 5.46 percent from the issue price on BSE. After this, it fell 9.24 percent to Rs 796.80.

At the same time, it was listed on the NSE with a fall of 6 percent at Rs 825.

Notably, on May 20, the last day of subscriptions, Ethos’ initial public offering was fully subscribed 1.04 times.

In the Initial Public Offering (IPO), a fresh issue of equity shares worth Rs 375 crore and 11,08,037 equity shares were brought into the market under offer-for-sale (OFS).

The size of the company’s IPO was Rs 472.3 crore. Its issue price was Rs 878 per share.

The proceeds from the new issue will be used for loan repayment, financing working capital requirements, opening new stores, and general corporate purposes.

Ethos has the largest portfolio of premium and luxury watches in India. It sells dozens of brands of watches.

Ethos Listing: over 50 premium and luxury items-

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 Retails watch brands.

The first luxury retail watch store under the brand name Ethos was opened in Chandigarh in January 2003. After this, now the company has reached different cities in the country and its stores are available.

Gifts received in lieu of increasing sales will be considered as income, companies giving gifts will have to deduct TDS

To increase the sales of the product, many companies give gifts to their distributors, wholesalers, and retailers.

Similarly, pharmaceutical companies often give big gifts to doctors to increase the sale of medicines. Companies take advantage of income tax by putting this expense under the head of sales promotion.

But the gift recipient neither includes them in his income nor does mention them in his return. Now, this cannot happen.