Motisons Jewellers IPO: Strong GMP Price created an Outcry in the Market. Discover GMP price, lot size, listing date, and status at PrimeNewsly.
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What started as a simple journey from a minimalistic store in the busy lanes of Johri Bazar in Jaipur has now turned out to be a larger-than-life story of Motisons Jewellers which is set to go public. Intending to raise INR 151.09 crores through the IPO, the Jaipur based Chhabra brothers aim to use the funds for funding the capital requirement and other corporate purposes. PrimeNewsly brings to you a detailed article on Motisons Jewellers IPO.
Creating bespoke jewellery which can take you by awe is the thumb rule at Motisons Jewellers. From the artisans working on the shop floor to the directors in the plush cabins, one thing which binds them all is the exquisiteness of every jewellery piece which is displayed in the showroom. Motisons Jewellers has evolved as a grand name in the jewellery market not only in Jaipur but in the entire state of Rajasthan. Strong revenue growth coupled with strategically located stores to tap the market and commitment to technology integration has led Motisons to carve a glorious path ahead. And with the motive of growing bigger and stronger, Motisons Jewellers IPO has been announced.
Comprising of a fresh issue of 2.74 equity shares, the Jaipur-based Motisons Jewellers opened its IPO for subscription on 18th December’23 and the IPO will close on 20th December’23.
Motisons Jewellers IPO comprises of a fresh issue of 27471000 equity shares @ INR 10 each face value.
The IPO opened for subscription on 18.12.23 and shall close on 20.12.23. There is no offer-for-sale component in the 2.74 crore fresh issue of equity shares offered by Motisons Jewellers.
The IPO lot size of Motisons Jewellers is 250 equity shares and the minimum amount of investment to be made by the retail investor is INR 13750/.
On the very first day, received a magnificent response from institutional and non-institutional investors! At the Motisons Jewellers IPO end of day 1, the issue was booked 15.02 times in which the portion of retail investors was subscribed 22.24 times, the QIB portion was 8% and the NII portion was subscribed 13.82 times.
The price band of Motisons Jewellers IPO has been fixed in the price band of INR 52-INR 55 per equity share.
Not more than 50 % of the shares have been reserved for qualified institutional buyers, not less than 15% have been reserved for non-institutional buyers and not less than 35% for retail investors.
GMP or the grey market premium is the premium the investors are ready to pay above the issue price of the share. According to the latest reports, Motisons Jewellers shares were trading at a premium of INR 109 per share in the grey market.
Given the current trend, it is expected that the listing price will be INR 164 per share.
The book running lead manager to the issue is Holani Consultants Pvt Ltd and the registrar to the issue is Link Intime India Pvt Ltd.
Allotment of shares will happen on 21st December’23 and the shares will be listed on BSE and NSE on 26th December’ 2023
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Conclusion
The proceeds from the IPO shall be used for debt payment, working capital and other corporate purposes. Before the IPO was launched, INR 36 crore was garnered from anchor investors in which Zinia Global Fund PCC- Cell Dewcap Fund purchased 20 lakh shares amounting to INR 11 crore and Meru Investment Fund PCC-Cell 1 brought 46 lakh equity shares amounting to INR 25.3 crores.
Given Motisons Jewellers strong track record and growth plans, the IPO looks attractive. Stay invested for a long period for maximum returns.
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