Motisons Jewellers sold its IPO in the price band of Rs 52-55 apiece, with a lot size of 250 shares. The IPO ran from December 18 to December 20.
Shares of Motisons Jewellers made a strong debut on Tuesday ,as the jewellery maker got listed at Rs 109 on NSE, a premium of 98 per cent over its issue price of Rs 55 apiece. The scrip debuted at Rs 103.90 on BSE, up 89 per cent. The listing gains though came in lower than what the grey market was expecting: a listing pop of 125-130 per cent.
Motisons Jewellers sold its IPO in the price band of Rs 52-55 apiece, with a lot size of 250 shares. The IPO ran from December 18 to December 20. The jeweller raised a little over Rs 151 crore from its primary offering, which entirely included a sale of 2,74,71,000 fresh shares.
The issue was subscribed 159.61 times, as the portion for qualified institutional bidders (QIBs) was booked 157.40 times while the one for non-institutional investors was subscribed 233.91 times. The quota reserved for retail investors was subscribed 122.28 times during the three-day bidding process.
Motisons Jewellers, established in October 1997, specialises in the sale of gold, diamond, and kundan jewellery, along with a diverse range of other jewellery products. The company offers an extensive product line, including traditional, modern, and combination designs across various jewellery categories. Its flagship store, Motisons Tower, is located in Jaipur, Rajasthan.
Holani Consultants served as the sole book running lead manager for the Motisons Jewellers IPO, with Link Intime India acting as the registrar for the issue.
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