Motisons Jewellers IPO Surges on Stock Exchanges:
The eagerly awaited Initial Public Offering (IPO) of Motisons Jewellers, which launched on December 18, 2023, and closed on December 20, 2023, has made a spectacular debut in the stock market. The IPO was initially priced at ₹151 crore, with a share price range set between ₹52 and ₹55.
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IPO Details and Market Performance:
- Listing Dates: The shares were listed on December 26, 2023.
- Listing Prices: On the National Stock Exchange (NSE), shares opened at ₹109 per share, while on the Bombay Stock Exchange (BSE), they opened at ₹103.90 per share.
- Profit Gains: Investors gained a whopping 98% on the NSE and 89% on the BSE on the first day of trading.
Motisons Jewellers IPO Fund Utilization:
This IPO, comprising 2.75 crore fresh issue shares and owned by the Chhabra family, plans to utilize the raised funds for debt repayment (₹58 crore) and working capital for the business (₹71 crore). The remaining funds are earmarked for general corporate purposes. The company has shown robust revenue growth over the past three years, with profits doubling in the last two and revenue growth of 16.5% in FY23 ending March.
Subscription Status:
The Motisons Jewellers IPO was subscribed 173.03 times across all categories, receiving a phenomenal response from Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII). Retail investors also showed strong interest, with the IPO being subscribed 135.22 times in this category.
Category-wise Subscription:
- QIB: 135.01 times
- NII: 311.93 times
- Retail: 135.22 times
This IPO listing of Motisons Jewellers marks a significant milestone in the company’s journey, reflecting strong investor confidence and market potential.
