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In a significant development in the market, Motisons Jewellers has initiated its initial public offering (IPO) today, aiming to raise ₹151.09 crore through a fresh issue of 2.74 crore equity shares at a price band of ₹52-55 per share. The IPO subscription window is open from December 18 to December 20.
In a significant development in the market, Motisons Jewellers has initiated its initial public offering (IPO) today, aiming to raise ₹151.09 crore through a fresh issue of 2.74 crore equity shares at a price band of ₹52-55 per share. The IPO subscription window is open from December 18 to December 20.
Motisons Jewellers, a renowned jewelry maker owned by the Chhabra family, has already garnered ₹36.3 crore from anchor investors, with a total allocation of 6.6 million equity shares at ₹55 per share. Interestingly, no shares from this allocation were allotted to funds.
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Here are the key aspects investors should consider before subscribing to the Motisons Jewellers IPO:
Issue Details: The IPO comprises only a fresh issue component, with a total fresh issue of 2.74 crore equity shares.
Subscription Dates: The IPO is open for subscription from December 18 to December 20, 2023.
Price Band: The price band for the offer has been fixed at ₹52-55 per share.
Issue Size: The IPO is a book-built issue of ₹151.09 crores.
Reservation: Not more than 50% of the issue is reserved for QIB, at least 35% for retail investors, and a minimum of 15% for Non-institutional Investors (NII).
Registrar: Link Intime India Private Ltd is the registrar for the issue.
Lead Manager: Holani Consultants Private Limited is the book running lead manager.
Promoter Holding: Promoters include Mr. Sandeep Chhabra, Mr. Sanjay Chhabra, and others.
Allotment Date: The allotment for the IPO is expected to be finalized on Thursday, December 21, 2023.
Listing Date: Motisons Jewellers IPO is set to list on BSE and NSE, with a tentative listing date on Tuesday, December 26, 2023.
The funds raised from the net fresh issue proceeds will be utilized for repayment of debt and working capital requirements, with the remainder earmarked for general corporate purposes.
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