Ethos Limited has filed its quarterly statement confirming the complete utilization of proceeds from its Qualified Institutional Placement (QIP) as of December 31, 2025. The company reported no deviations or variations in the use of funds for the quarter ended December 31, 2025, maintaining compliance with regulatory requirements under SEBI regulations.

QIP Details and Fund Utilization

The luxury watch retailer had raised funds through a QIP conducted on November 3, 2023, issuing 11,31,210 equity shares. The placement generated gross proceeds of Rs 17,499.82 lakhs, with net proceeds amounting to Rs 16,959.64 lakhs after deducting issue expenses.

Fund Allocation and Usage

The QIP proceeds were allocated for two primary objectives, both of which have been fully utilized according to the company's regulatory filing. The funds were deployed as originally planned without any deviations from the stated objects.

Regulatory Compliance and Monitoring

Ethos Limited's QIP utilization is being monitored by CRISIL Ratings Limited as the designated monitoring agency. The company has maintained transparency in its fund utilization process, with both the Audit Committee and auditors providing no adverse comments on the deployment of proceeds.

The company filed this statement in compliance with Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the relevant SEBI circular dated December 24, 2019. The statement has been made available on the company's website for stakeholder reference.

Corporate Governance Aspects

The filing was signed by Shubham Kandhway, Company Secretary and Compliance Officer, confirming that there were no deviations in objects, purposes, or amounts of fund utilization as against the original disclosure. The complete utilization of QIP proceeds demonstrates the company's adherence to its stated business plans and regulatory commitments.

The working capital funding component, representing the larger portion at Rs 13,125.00 lakhs, was fully utilized by the quarter ended June 30, 2025. The general corporate purposes allocation of Rs 3,834.64 lakhs was deployed for expenses incurred in the ordinary course of business operations.

Ethos Limited has announced that its Board of Directors will convene on February 6, 2026, to review and approve the company's unaudited financial results for the third quarter of fiscal year 2026. The meeting will address both standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.

Board Meeting Details

The company has formally notified the stock exchanges about the upcoming board meeting in accordance with regulatory requirements. The meeting is scheduled to take place on Friday, February 6, 2026, and will focus on the financial performance review for the specified period.

Trading Window Restrictions

In compliance with insider trading regulations, Ethos Limited has implemented trading window restrictions for designated persons. The trading window closure is part of the company's adherence to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.

Regulatory Compliance

The announcement was made pursuant to Regulation 29(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has communicated this information to both BSE Limited and National Stock Exchange of India Limited, ensuring full compliance with listing requirements.

Company Information

Ethos Limited operates with multiple office locations across India. The company maintains its registered office in Parwanoo, Himachal Pradesh, while its corporate office is located in Chandigarh. The head office is situated in Gurugram, Haryana, reflecting the company's multi-location operational structure.

The formal communication was signed by Shubham Kandhway, Company Secretary and Compliance Officer, on January 29, 2026, ensuring proper documentation and regulatory adherence for the upcoming financial results review.