Motisons Jewellers’ Remarkable Debut: NSE Witnesses a 98% Premium, BSE Experiences an 89% Surge
In the intricate dance of initial public offerings, Motisons Jewellers orchestrated a financial spectacle, offering its IPO within the price spectrum of Rs 52-55 per share, with a lot size set at 250 shares. This financial overture unfolded its curtains from December 18 to December 20.
Insights into the IPO
Motisons Jewellers gracefully graced the National Stock Exchange (NSE) at Rs 109, a breathtaking surge of 98% over the issued price. Simultaneously, the Bombay Stock Exchange (BSE) witnessed the stock’s debut at Rs 103.90, encapsulating an impressive premium of 89%. The entire Motisons Jewellers IPO, amounting to Rs 151.09 crore, was an immaculate offering of fresh shares.
The narrative of Motisons Jewellers on Tuesday unfolded as the jewel craftsman’s creation found its place at Rs 109 on the NSE, a resplendent premium of 98% over the per-share issue price of Rs 55. Meanwhile, on the BSE stage, the script unfolded at Rs 103.90, entailing an 89% elevation. The ascension in the listing gains, however, danced to a slightly different tune than the expectations lingering in the enigmatic realms of the grey market, settling for a listing pop of 125-130%.
The jewel maestro, Motisons Jewellers, offered its IPO in the Rs 52-55 per share range, each lot consisting of 250 shares. This financial spectacle graced the stage from December 18 to December 20. The artisan of adornment raised slightly north of Rs 151 crore through its primary offering, an offering that exclusively featured the sale of 2,74,71,000 pristine shares.
The subscription saga unfolded dramatically, with a staggering 159.61 times oversubscription. Qualified institutional bidders (QIBs) voraciously claimed their stake, marking a formidable 157.40 times oversubscription, while non-institutional investors weren’t far behind, subscribing a whopping 233.91 times. Retail investors, too, embraced the fervor, subscribing 122.28 times during the three-day bidding odyssey.
Established in the tapestry of October 1997, Motisons Jewellers carved its niche, specializing in the allure of gold, diamond, and kundan jewelry, alongside a myriad of other exquisite jewelry offerings. The emporium unfolds an opulent array, weaving together traditional, modern, and fusion designs across diverse jewelry categories. Jaipur, Rajasthan, houses the pièce de résistance – Motisons Tower, the flagship store.
Guiding the financial symphony, Holani Consultants held the baton as the exclusive book running lead manager for the Motisons Jewellers IPO, while Link Intime India gracefully undertook the role of the registrar for this financial opus.
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