“Motisons Jewellers IPO’ initial public offering (IPO) commenced on Monday, December 18, and is scheduled to conclude on Wednesday, December 20. On December 15, the company secured ₹36.3 crore from anchor investors, a day before the IPO opened. Only two investors participated in the anchor book, and the company confirmed the allocation of 6.6 million equity shares at a price of ₹55 per share. Notably, no shares were allotted to funds among the total allocation to anchor investors. The jewellery maker, owned by the Chhabra family, aims to raise ₹151.09 crore through the IPO, with a fresh issue component of 2.74 crore equity shares.”
Key Information Before Subscribing to Motisons Jewellers IPO:
- IPO Dates: The subscription for Motisons Jewellers IPO opens on December 18 and closes on December 20.
- Price Band: The IPO offers shares in the price range of ₹52-55 per share.
- IPO Size: A book-built issue with a total value of ₹151.09 crores, comprising a fresh issue of 2.75 crore shares.
- Reservation: Allocation is set at not more than 50% for QIB, not less than 35% for retail investors, and not less than 15% for Non-Institutional Investors (NII).
- Registrar: Link Intime India Private Ltd is the registrar for the issue.
- Book-Running Managers: Holani Consultants Private Limited serves as the book running lead manager for the IPO.
- Promoter Holding: The company’s promoters include Mr. Sandeep Chhabra, Mr. Sanjay Chhabra, Ms. Namita Chhabra, Ms. Kajal Chhabra, Moti Lal Sandeep Chhabra HUF, Sandeep Chhabra HUF, and Sanjay Chhabra HUF.
- Allotment Date: The allotment for Motisons Jewellers IPO is expected to be finalized on December 21, 2023.
- Listing Date: The IPO is set to list on BSE and NSE, with a tentative listing date fixed for December 26, 2023.
- IPO Objective: Out of the net fresh issue proceeds, ₹58 crore will be used for debt repayment, ₹71 crore for working capital requirements, and the remaining allocated for general corporate purposes.”