The initial public offering (IPO) of Ethos Ltd, one of the largest retailers in the premium and luxury watch industry, opens for subscription on Wednesday, May 18, and closes on Friday, May 20.Ethos has a sizeable portfolio of premium and luxury watches in India, enabling it to retail 50 premium and luxury watch brands like Rolex, Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, Rado, Longines, and Tissot.The IPO consists of a fresh issue of equity shares aggregating to Rs 375 crore and an offer-for-sale (OFS) of up to 1,108,037 equity shares.Also Read | Ethos IPO | Here is a SWOT analysis of the luxury watch companyThe price band for the offer has been fixed at Rs 836-878 per equity share of a face value of Rs 10 each.Half of the issue size has been reserved for qualified institutional investors, 35 percent for retail investors and the remaining 15 percent for non-institutional investors. Investors can bid for a minimum of 17 equity shares and in multiples of 17 thereafter.Here's what the brokerage firms suggest:Brokerage FirmsRating1Nirmal Bang SecuritiesSubscribe for Long Term2Hem SecuritiesSubscribe for Long TermNirmal Bang SecuritiesGoing forward, the company is expanding its stores — 13 new stores over 50 existing in next three years, and with new categories the brokerage firm believes Ethos can grow strongly.“We understand that the company is very small as compared to other listed retail players and focused on one category (currently), we believe that there is scope for growth in future,” Nirmal Bang Securities said. The current valuations make it look attractive which has prompted the brokerage firm to recommend “Subscribe for Long Term”.Hem SecuritiesWith strong growth prospects, the brokerage firm believes that the company can be candidate for long term investment purpose. With this, Hem Securities has recommended “Long Term Subscribe” on the issue.Ethos, being leading luxury watch Omnichannel retail player of India, has access to a large base of luxury customers and also enjoys leadership position in an attractive luxury watch market with early mover advantage in certified pre-owned business. Additionally, the company being founder-led is supported by a professional management team, the brokerage firm said.Catch up on all LIVE stock market updates here.