Timex Group Luxury Watches B.V., Netherlands has made an offer for sale of equity shares of Timex Group India Limited through the stock exchange mechanism.

The offer for sale aggregated 15,142,500 equity shares of the Company having face value of ₹1 each (representing 15.00% of the total issued and paid-up equity share capital of the Company) for a total consideration of ₹315.35 crore.

Trilegal has advised Timex Group Luxury Watches B.V., Netherlands on this stake sale.

The Trilegal Capital Markets team advising on the mandate was led by Abhinav Maker (Partner) and supported by Ajo Jomy (Counsel) and Ipsita Sahoo (Associate).

JSA Advocates and Solicitors advised Kotak Securities Limited on the offer for sale of equity shares of Timex Group India.

The transaction team was led by Arka Mookerjee (Partner), along with the Equity Capital Markets team, including Pracheta Bhattacharya (Partner) and Kairav Parikh (Principal Associate).

Shardul Amarchand Mangaldas & Co acted as the tax counsel to Timex Group in relation to the offer for sale. The Firm provided strategic advice on structuring of transaction in tax efficient manner, analysing the tax implications and assisted in undertaking tax compliances related to this transaction.

The tax advisory team comprised of Sanjiv Malhotra (Senior Advisor – Head of Tax Practice), Rohit Garg (Partner), Aayush Nagpal (Partner), Priyanka Jain (Principal Associate) and Shantanu Nair (Associate).

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