Timex Group India Limited announced that the Board of Directors of the Company will, at its meeting scheduled to be held on November 1, 2022, consider, inter-alia, issuance of Non-Cumulative Redeemable Non-Convertible Preference Shares on private placement basis for an amount upto INR 2.5 Crore to M/s Timex Group Luxury Watches B.V., Netherlands, the Holding Company, for the purpose of redemption of existing Non-Cumulative Redeemable Non-Convertible Preference shares of the same amount.