Invesco Asset Management (India) Private Limited has disclosed a substantial acquisition of shares in ethos , increasing its aggregate holding to 7.5566% of the company's paid-up share capital. The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, following transactions completed on February 12, 2026.

Acquisition Details

The asset management company acquired 2,28,003 shares carrying voting rights through open market purchases, representing 0.8521% of Ethos Limited's total share capital. This acquisition increased Invesco's total holding from 17,93,979 shares (6.7045%) to 20,21,982 shares (7.5566%), marking a change of 2.3386% from the last disclosure made under sub-regulation (1).

Mutual Fund Schemes Involved

The acquisition was made through six schemes of Invesco Mutual Fund:

• Invesco India Business Cycle Fund
• Invesco India Flexi Cap Fund
• Invesco India Smallcap Fund
• Invesco India Large & Mid Cap Fund
• Invesco India Midcap Fund
• Invesco India Multicap Fund

Invesco Asset Management confirmed that it does not belong to the promoter or promoter group of Ethos Limited.

Company Information

Ethos Limited maintains an equity share capital of Rs. 26,75,76,930, comprising 2,67,57,693 equity shares of Re. 10 each. The company's shares are listed on both BSE Limited and National Stock Exchange of India Limited. The equity share capital remained unchanged following this acquisition.

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) and 29(3) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. Hardik Mehta, Chief Risk Officer at Invesco Asset Management (India) Private Limited, signed the disclosure document dated February 16, 2026. The company has provided detailed acquisition information in the prescribed format to both Ethos Limited and the stock exchanges where the company's shares are listed.

Ethos Limited has submitted its quarterly compliance report to BSE and NSE, confirming no deviation or variation in the utilization of proceeds from its rights issue for the quarter ended December 31, 2025. The filing, made pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrates the company's adherence to its original fund utilization plan.

Rights Issue Details

The luxury watch retailer successfully completed its rights issue on July 04, 2025, raising funds up to Rs 40,990.50 lakh. The fund raising exercise operates under the supervision of CRISIL Ratings Limited as the designated monitoring agency, ensuring proper oversight of fund utilization.

Fund Utilization Status

As of the reporting date, Ethos has utilized Rs 30,011.53 lakh out of the total funds raised, representing approximately 73% of the proceeds. The company allocated the funds across three primary objects as outlined in the original placement document filed with stock exchanges and the Registrar of Companies, Himachal Pradesh.

Quarterly Performance

The company reported that no proceeds were utilized toward any of the designated objects during the quarter ended December 31, 2025. This indicates that the fund utilization occurred primarily in earlier quarters following the rights issue completion. The largest allocation of Rs 31,000.00 lakh was designated for funding working capital requirements, of which Rs 20,389.52 lakh has been utilized to date.

Compliance and Oversight

The quarterly statement confirms full compliance with regulatory requirements, with both the Audit Committee and auditors providing no adverse comments on the fund utilization. The company has made the detailed statement available on its investor relations website, maintaining transparency with stakeholders.

Ethos Limited, headquartered in Gurugram with its registered office in Himachal Pradesh, continues to maintain regulatory compliance in its fund utilization practices. The company's adherence to the original objects without any deviation demonstrates disciplined capital allocation in line with shareholder expectations and regulatory guidelines.