In 2025, India’s primary markets continue to attract companies from differentiated consumer segments, including premium and luxury categories. Against this backdrop, Luxury Time Limited, a distributor and retailer of Swiss luxury watches, is launching its IPO on December 4, 2025. The issue opens a route for investors to participate in the growth of India’s evolving luxury retail ecosystem.
Here is a detailed insight into Luxury Time Limited, its IPO structure, and the business outlook.
About Luxury Time Ltd.
Incorporated in 2008, Luxury Time Ltd is engaged in the distribution, marketing, retailing, and after-sales servicing of Swiss luxury watches in India. The company is also involved in the distribution of watch service-related tools and equipment. Headquartered in New Delhi, it is backed by professionals experienced in luxury watch distribution, retail management, precision servicing, and brand marketing.
Luxury Time operates through five integrated business verticals:
- Watch distribution (B2B)
- Direct-to-consumer (D2C) and e-commerce sales
- After-sales services
- Branding, PR, and marketing support
- Tools and machinery distribution
The company has a retail footprint of over 70 points of sale (POS) across India, including mono-brand boutiques, multi-brand outlets, and digital platforms. It has a presence in major metros such as Delhi, Mumbai, Bengaluru, and in Tier I and Tier II cities like Hyderabad, Ahmedabad, Pune, Surat, Kolkata, Chennai, Coimbatore, Chandigarh, Ludhiana, Cochin, and Lucknow.
Luxury Time’s after-sales service network includes two service centres in Mumbai and Delhi, along with more than 20 authorised and dealer-operated facilities across the country.
Its brand portfolio includes Swiss luxury watch brands such as TAG Heuer, Zenith, Bomberg, and Exaequo. The company is the authorised distributor for TAG Heuer in India and manages its official e-commerce platform.
As of September 30, 2025, the company has 17 employees.
Luxury Time IPO Details
Issue structure: Luxury Time IPO is a book-built issue of ₹18.74 crore, comprising both fresh issue and offer for sale.
- Total Issue Size: 22,84,800 shares (₹18.74 crore)
- Fresh Issue: 18,00,000 shares (₹15.00 crore)
- Offer for Sale (OFS): 5,00,000 shares (₹3.74 crore)
Use of Proceeds (Net):
- Funding capital expenditure for setting up 4 new retail stores
- Meeting working capital requirements
- General corporate purposes
Important IPO Timeline
| Event | Date (Tentative) |
| IPO Open Date | December 4, 2025 (Thu) |
| IPO Close Date | December 8, 2025 (Mon) |
| Allotment Finalisation | December 9, 2025 (Tue) |
| Initiation of Refunds | December 10, 2025 (Wed) |
| Credit of Shares to Demat | December 10, 2025 (Wed) |
| Listing Date | December 11, 2025 (Thu) |
| Cut-off time for UPI mandate confirmation | 5 PM on December 8, 2025 |
Key IPO Details
| Parameter | Details |
| IPO Type | Bookbuilding IPO |
| Face Value | ₹10 per share |
| Price Band | ₹78 to ₹82 per share |
| Lot Size (base) | 1,600 shares |
| Total Issue Size | 22,84,800 shares (₹18.74 Cr) |
| Fresh Issue (overall) | 18,00,000 shares (₹15.00 Cr) |
| Fresh Issue (ex Market Maker) | 16,14,400 shares (₹13.24 Cr) |
| Offer for Sale | 4,56,000 shares (₹3.74 Cr) |
| Market Maker Reservation | 2,14,400 shares (₹1.76 Cr) – Giriraj Stock Broking Pvt. Ltd. |
| Net Offered to Public | 20,70,400 shares (₹16.98 Cr) |
| Listing | BSE SME |
| Pre-Issue Shareholding | 64,26,028 shares |
| Post-Issue Shareholding | 82,54,828 shares |
| Promoters | Mr. Ashok Goel and Mr. Pawan Chohan |
| Lead Manager | GYR Capital Advisors Pvt. Ltd. |
| Registrar | MAS Services Ltd |
Luxury Time IPO Reservation
Luxury Time IPO offers a total of 22,84,800 shares, with the following allocation:
| Investor Category | Shares Offered | % of Issue |
| Market Maker | 2,14,400 | 9.38% |
| QIB | 10,28,800 | 45.03% |
| NII (HNI) | 3,13,600 | 13.73% |
| Retail (RII) | 7,28,000 | 31.86% |
| Total | 22,84,800 | 100.00% |
Anchor Investor Details
Luxury Time IPO has also raised funds from anchor investors prior to the issue opening.
| Item | Details |
| Anchor Bid Date | December 3, 2025 |
| Anchor Portion Size | ₹5.06 crore |
| Anchor Shares Allotted | 6,17,600 |
| Lock-in (50% of shares) | Until January 8, 2026 |
| Lock-in (remaining 50%) | Until March 9, 2026 |
Lot Size of Luxury Time IPO
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereafter.
| Application Category | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | ₹2,62,400 |
| Retail (Max) | 2 | 3,200 | ₹2,62,400 |
| S-HNI (Min) | 3 | 4,800 | ₹3,93,600 |
| S-HNI (Max) | 7 | 11,200 | ₹9,18,400 |
| B-HNI (Min) | 8 | 12,800 | ₹10,49,600 |
Luxury Time Ltd. Financials
Luxury Time has shown steady growth in revenue and a sharper rise in profitability in recent periods.
Key Company Financials (Restated Consolidated, ₹ crore)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 29.87 | 30.12 | 25.53 | 22.12 |
| Total Income | 24.91 | 60.78 | 50.59 | 52.86 |
| Profit After Tax | 2.01 | 4.29 | 2.01 | 2.58 |
| EBITDA | 2.94 | 6.21 | 3.15 | 3.97 |
| Net Worth | 20.87 | 18.86 | 13.31 | 11.30 |
| Reserves and Surplus | 14.44 | 12.43 | 12.44 | 10.43 |
| Total Borrowing | 2.07 | 1.56 | 3.12 | 2.20 |
Between FY 2024 and FY 2025, revenue increased by about 20%, while PAT rose by 114%, indicating improved margins and operating leverage.
Key Performance Indicators (as of March 31, 2025)
| KPI | Value |
| ROCE | 29.84% |
| Debt to Equity | 0.08 |
| RoNW | 22.49% |
| PAT Margin | 6.95% |
| EBITDA Margin | 10.13% |
| Price to Book Value | 2.83 |
| Market Capitalisation (at issue terms) | ₹67.69 Cr |
Earnings and Valuation (Pre and Post IPO):
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 6.52 | 5.08 |
| P/E (x) | 12.57 | 16.15 |
Promoter Holding:
| Pre-Issue | Post-Issue | |
| Promoter Shareholding | 95% | – |
Luxury Time Ltd.: Industry Outlook
- Growing luxury consumption: Rising disposable incomes, urbanisation, and aspirational lifestyles are driving demand for luxury goods, including Swiss watches, among affluent and upper-middle-income consumers in India.
- Organised retail and e-commerce: Expansion of organised luxury retail formats and online channels is improving accessibility and brand visibility, benefiting distributors and authorised partners.
- Service and ecosystem play: Luxury watches require after-sales support, repairs, and authentic servicing. Luxury Time’s network of service centres and authorised facilities supports brand trust and long-term customer relationships.
- Brand partnerships: As the authorised distributor for global brands like TAG Heuer in India, Luxury Time sits in a strategic position between international luxury brands and Indian consumers.
Luxury Time IPO: Peer Comparison
Luxury Time IPO can be compared with peers such as Ethos Ltd, Titan Company Ltd, Kalyan Jewellers India Ltd, PC Jeweller Ltd, and Tribe Concepts Retail Ltd. Evaluating these established players in the luxury retail and jewellery segments helps investors understand Luxury Time’s positioning within the premium lifestyle and luxury watch distribution market, enabling more informed investment decisions.
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Conclusion
Luxury Time Limited offers investors an opportunity to participate in India’s growing luxury consumption story, focused on Swiss luxury watches and related services. The company operates an integrated model spanning distribution, retail, e-commerce, after-sales servicing, and tools distribution, with a presence across key metros and Tier I and II cities.
Financially, the company has reported healthy growth in revenue and a sharper improvement in profitability, with comfortable leverage and decent return ratios. On the flip side, investors should consider risks such as sensitivity to macroeconomic conditions, high-ticket discretionary spending, dependence on key global brands, and competition in the luxury retail space.
Overall, the Luxury Time IPO may interest investors who understand the luxury segment, have a higher risk appetite, and are comfortable with SME listing dynamics and liquidity.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
