Motisons Jewellers IPO shines bright, records 98% listing premium
The IPO, open from Dec 18-20, received an overwhelming response with a subscription of 159.6 times, raising over Rs 151 crore from the sale of 2,74,71,000 fresh shares.
Source: Motisons Jewellers
Motisons Jewellers sees a stellar listing, doubling investors' money with shares opening at Rs 109, a 98% premium over the issue price of Rs 55.
Source: Motisons Jewellers
Qualified institutional buyers (QIBs) and non-institutional investors showed strong interest, subscribing 157.40 times and 233.91 times, respectively. Retail investors subscribed 122.28 times.
Source: Motisons Jewellers
Financially robust, the company reported a 50.5% surge in net profit to Rs 22 crore and a 16.5% increase in revenue to Rs 366 crore in FY23.
Source: Motisons Jewellers
IPO funds of Rs 151 crore to be allocated for repaying debts (Rs 58 crore), working capital (Rs 71 crore), and general corporate purposes.
Source: Motisons Jewellers
Established in 1997, Motisons Jewellers started with a single Jaipur showroom, expanding to four, offering a diverse portfolio of over 300,000 jewellery designs.
Source: Motisons Jewellers
Holani Consultants lead the IPO as the sole book running manager, with Link Intime India serving as the registrar, reinforcing the attractiveness of the jewellery retail sector.