NORQAIN makes its retail debut in India exclusively through Ethos Watch Boutiques, joining Ethos' portfolio of exclusive brands.

Consumers can now explore all popular NORQAIN collections in-store and online. "Collections yet to make it to India can be made available upon request, and on special order," Ethos said in a statement.

NORQAIN makes 100% mechanical watches that are completely built in-house. Their leading collections like Independence, Freedom and Adventure are a series of robust sports watches that are designed for explorers, adventurers, and wanderers.

Ethos is one of the country's largest luxury and premium watch retail players with 13% share of the total retail sales in premium and luxury segment, and a share of 20% exclusively in the luxury segment in the financial year 2020.

The company reported a net profit of Rs 15.98 crore and net sales of Rs 418.59 crore for the nine months ended on December 2021.

Shares of Ethos were listed on the bourses on 30 May 2022. The scrip was listed at Rs 830, representing a discount of 5.47% to the initial public offer (IPO) price of Rs 878.

The IPO of Ethos was subscribed 1.04 times. The issue opened for bidding on Wednesday (18 May 2022) and it closed on Friday (20 May 2022). The price band of the IPO was fixed at Rs 836-878 per share.