Motisons Jewellers Ltd.'s initial public offering of Rs 151 crore, which opened on Monday, was subscribed over 51 times.
The maiden issue is priced in the band of Rs 52–55 per share. The IPO will conclude on Wednesday.
The IPO includes a fresh issue up to 2.75 crore shares with a face value of Rs 10 each. The jewellery maker will use the proceeds to reduce existing borrowing taken from the commercial banks.
Motisons Jewellers has done a pre-IPO placement of 60 lakh shares at a price band of Rs 55 each for a cash consideration of up to Rs 33 crore.
IPO Details
Offer opens: Dec. 18
Offer closes: Dec. 20
Fresh issue size: Rs 151.3 crore
Price Band: Rs 52–55 per share.
Lot size: 250 shares.
Face value: Rs 10 per share.
Total offer size: Rs 151.3 crore
Listing: NSE, BSE.
Business
Motisons Jewellers was established in 1988 in Jaipur. With time, the company was able to expand across the country with a reputation of one of the prime jewellery makers.
Subscription Status: Day 2
The IPO was subscribed 51.41 times as of 5:00 p.m. on Tuesday.
Institutional investors: 0.66 times, or 66%
Non-institutional investors: 69.63 times
Retail investors: 64.46 times
Watch IPO Adda With Motisons Jewellers' Management
Also Read: Motisons Jewellers IPO: All You Need To Know
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