Motisons Jewellers Limited IPO Update
Motisons Jewellers jewelry establishment, which was founded in October 1997, has its headquarters in the heart of Jaipur, Rajasthan. The company is well-known for its micro-geographical retail network, and it has four opulent emporiums, one of which serves as the regional flagship boutique. The establishment, which specializes in an eclectic array of exquisite jewelry, offers a vast collection of over 300,000 meticulously crafted designs.
A medley of gold, diamonds, kundan, and an assortment of artifacts hewn from materials such as pearls, silver, platinum, and rare gemstones can be found in their repertoire.
The primary establishment in Jaipur, Rajasthan, and a recent outpost in the luxurious precinct of Vaishali Nagar are clearly demonstrating the company’s rigorous approach to geographical placement and customer outreach. This establishment maintains an electronic footprint that allows patrons to explore and purchase jewelry within the company’s Cyberspace domain, together with its physical enclaves.
What is the issue size of the Motisons Jewellers Limited IPO?
In total, the company’s initial public offering entails a clean allocation of about INR 151.09 crores without any divestment by existing shareholders and concludes with an overall amount of approximately INR 151.09 crores in equity shares.
Motisons Jewellers’ initial public offering (IPO) was fully subscribed within a few minutes of its start on its first day, thanks to the enthusiastic participation of both retail and non-institutional investors (NIIs). Motisons IPO had a whopping 15.02 times oversubscription by the end of the first day.
Information about Motilal Sons Jewellers
On December 15, 2023, Motisons Jewellers Ltd. saw a very strong response to its anchor issue, with 24.03% of the IPO size finding takers among the anchor investors. Anchors purchased 66,00,000 shares (66 lakh shares) of the 2,74,71,000 shares (274.71 lakh shares) that were made available, making up 24.03% of the total IPO volume. Just one working day before the IPO inauguration, which is set for Wednesday, December 18, 2023, the disclosure of anchor placement was reported to the BSE late on Friday, December 15, 2023. The subscription period for the Motisons Jewellers Ltd IPO, which has a price range of ₹52 to ₹55, is scheduled to end on December 20, 2023.
The entire allocation to anchors was made at a maximum price of 55 per share, which included the 10 face value and an additional 45 premium. This particular valuing structure was maintained for the whole anchor portion. As we dive into the anchor distribution portion going before the Motisons Goldsmiths Ltd Initial public offering, it unfurled with the opening and shutting of anchor offering on December 15, 2023.
The entire 2.74 crore shares are being offered in this fresh issue, which ends on December 20. Prior to the initial public offering (IPO), the company raised Rs 36.3 crore from two anchor investors on December 15. Meru Investment Fund PCC-Cell 1 acquired 46 lakh equity shares worth Rs 25.3 crore, while Zinnia Global Fund PCC-Cell Dewcap Fund bought 20 lakh shares valued at Rs 11 crore.
During the fiscal year that ended in March of FY23, Motisons reported a notable increase in net profit of 50.5% to Rs 22.2 crore. Additionally, operating revenue increased by 16.5% to Rs 366.2 crore compared with the previous fiscal year.
Prior to filing the RHP, Motisons—which has four jewelry showrooms throughout the pink city—raised Rs 33 crore in a pre-IPO placement. Link Intime India acts as the registrar for the upcoming issue, and Holani Consultants takes on the crucial role of book-running lead manager.
