Motisons Jewellers IPO: Announces IPO Price Band of Rs 52-55, Aims to Raise Rs 151 crore

Motisons Jewellers IPO: The glittering world of jewelry is making its mark on the stock market as Motisons Jewellers, a renowned name in the industry, announces its maiden public issue. With a price band set at Rs 52-55 per share and plans to raise Rs 151.09 crore from the market, Motisons Jewellers is poised to captivate investors seeking an opportunity in the evergreen jewelry sector. In this blog, we will delve into the details of the Motisons Jewellers IPO, shedding light on what investors can expect from this offering.

Also See: Motisons Jewellers IPO GMP

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About Motisons Jewellers:

Founded in 1997 with a single showroom in the picturesque city of Jaipur, Motisons Jewellers has since then evolved into a prominent player in the jewelry business. Today, the company boasts a network of four showrooms operating under the Motisons brand, symbolizing quality, craftsmanship, and tradition.

Also See: Upcoming IPO in India

Motisons Jewellers IPO

IPO Details:

  1. Price Band: The price band for Motisons Jewellers IPO has been set at Rs 52-55 per share, making it an attractive proposition for both retail and institutional investors.
  2. Issue Size: The IPO consists of a fresh issue portion of 2.74 crore equity shares. The company intends to utilize the net fresh issue proceeds as follows:
  • Rs 58 crore for debt repayment.
  • Rs 71 crore for working capital requirements.
  • The remaining funds will be earmarked for general corporate purposes.
  1. Subscription Period: Investors can subscribe to the IPO from December 18 to December 20, 2023. For institutional investors, the anchor book opened on December 15, providing them with an early opportunity to invest.
  2. Pre-IPO Placement: Prior to the IPO, Motisons Jewellers successfully raised Rs 33 crore by allotting 60 lakh shares through a pre-IPO placement at a price of Rs 55 per share. As a result, the fresh issue size was adjusted from 3.34 crore to 2.74 crore equity shares.

Also See: IPO GMP Today Price: All IPO GMP Today

Investment Details:

For retail investors, the minimum bid is set at 250 equity shares, with multiples of 250 shares thereafter. The minimum investment amount for retail investors in the IPO is Rs 13,750 for 250 shares, and the maximum limit is Rs 1,92,500 for 3,500 shares. It’s important to note that retail investors cannot exceed their investment limit of Rs 2 lakh in any IPO.

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Allocation:

Motisons Jewellers has reserved 50 percent of its issue size for qualified institutional buyers (QIBs), indicating a strong focus on institutional participation. Additionally, 15 percent of the shares are allocated for high net worth individuals (HNIs), with the remaining 35 percent earmarked for retail investors.

Motisons Jewellers IPO

Conclusion:

As Motisons Jewellers steps into the world of IPOs, it presents a golden opportunity for investors to partake in the success story of a prominent jewelry brand. With its rich legacy, commitment to quality, and a solid business plan, the company is poised for growth in the evergreen jewelry industry. The IPO, scheduled to open on December 18, is set to capture the attention of investors seeking to add a touch of sparkle to their portfolios. As always, potential investors are encouraged to conduct thorough research and consult with financial advisors before making investment decisions in the IPO market.

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