Motisons Jewellers made an impressive debut on Tuesday as its shares hit the market at Rs 109 on NSE, marking a substantial 98% premium over the issue price of Rs 55 per share. The debut on BSE was equally strong, with the stock opening at Rs 103.90, up by an impressive 89%. However, the listing gains were slightly below the expectations of the grey market, which anticipated a pop of 125-130%.
Motisons Jewellers conducted its IPO in the price band of Rs 52-55 per share, with a lot size of 250 shares. The IPO subscription was remarkable, with the issue being oversubscribed 159.61 times. Qualified institutional bidders (QIBs) showed strong interest with a subscription of 157.40 times, while non-institutional investors subscribed 233.91 times. Retail investors also participated actively, subscribing 122.28 times during the three-day bidding process.
Raising over Rs 151 crore from its primary offering, Motisons Jewellers' IPO comprised the sale of 2,74,71,000 fresh shares. Established in October 1997, the company specializes in gold, diamond, and kundan jewellery, offering a diverse range of products, including traditional, modern, and combination designs. The flagship store, Motisons Tower, is situated in Jaipur, Rajasthan.
Holani Consultants played a crucial role as the sole book running lead manager for the Motisons Jewellers IPO, while Link Intime India served as the registrar for the issue. The successful debut reflects strong investor confidence in the company's offerings and future prospects.
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