Bengaluru, June 25 -- The shares of this prominent watch manufacturer hit a 5 percent lower circuit in the trading session after the company's promoter announced plans to sell 15 percent of the firm via the offer for sale (OFS) route.

With a market capitalization of Rs 2,533.85 crore, the shares of Timex Group India Ltd were trading at Rs 251.00 per share, decreasing around 5 percent as compared to the previous closing price of Rs 264.20 per share.

The shares of Timex Group India Ltd have seen bearish movement after Promoter Timex Group Luxury Watches BV, Netherlands, will be selling up to a 15 percent stake in Timex Group India via an Offer-for-Sale (OFS) on June 25-26, including the base offer size of 7.5 percent (75.71 lakh shares), ...