Shares of Timex Group India declined 10%, hitting the lower circuit today after the company announced that its parent company is planning to sell some stake in the firm at a steep discount. The watch-maker’s shares were locked in the 10% lower circuit at Rs 316.60 apiece in the early hours of today’s trade. 

In an exchange filing issued after the market closed on December 26, Timex Group India disclosed that its promoter, Timex Group Luxury Watches BV, intends to sell up to 45 lakh shares, representing a 4.47% ownership in the firm, through an offer for sale of shares between December 29-30.

The offer for sale will also include a green shoe option for an additional 4.47% equity investment or 45.09 lakh shares, increasing the projected OFS size to 8.93%. The floor price has been set at Rs 275 per share, representing a 22% discount to the stock's previous closing price of Rs 351.75.

"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.

In the same exchange filing, the company also said that only non-Retail Investors shall be allowed to place their bids on T Day, i.e., Monday, December 29, 2025. While placing their bids, non-Retail Investors may indicate their willingness to carry forward their unallotted bids to T+1 Day for allocation to them in the unsubscribed portion of Retail Category. “The Offer shall take place during trading hours on a separate window of the Stock Exchange on T Day, i.e., Monday, December 29, 2025, commencing at 9:15 a.m. and shall close on the same date at 3:30 p.m. Indian Standard Time on the same day,” the filing noted. 

According to data on the firm's shareholding patterns as of September 30, 2025, promoters and promoter groups owned 59.93% of the corporation, with the public holding the remaining 40.07%

The stock of the popular Indian watch retailer has risen 56% on a year-to-date basis, and over a 6-month period, the share price has risen 47.08%. Given today’s sharp fall, the stock is down by nearly 10% in the past five sessions.