The Initial Public Offering of Motisons Jewellers Limited was subscribed 159.61 times on the final day of bidding.
The issue received bids of 3,33,11,48,000 shares against the offered 2,08,71,000 equity shares, at a price band of ₹52-55, according to the data available on the stock exchanges.
Retail Portion was subscribed 122.28 times, Non-Institutional Investors Portion was subscribed 233.91 times, whereas Qualified Institutional Buyer Portion was subscribed 157.40 times. The issue kicked off for subscription on Monday, December 18, 2023 and will close on Wednesday, December 20, 2023.
A day prior to the opening of the issue, Motisons Jewellers Ltd had raised Rs 36.3 crores from anchor investors. Domestic Institutions who participated in the anchor were Meru Investment Fund PCC-Cell and Zinnia Global Fund PCC-Cell Dewcap Fund.
Holani Consultants Private Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the offer.
Motisons Jewellers is managed by second generation entrepreneurs, Sandeep Chhabra, Chairman & Whole Time Director and Sanjay Chhabra, Managing Director, sons of Late Moti Lal Chhabra, who have over two decades’ years of expertise in the jewellery industry.
Its other offerings include gold and silver coins, utensils and other artifacts. It had commenced its business through a partnership firm ‘M/s Motisons Jewellers’ in 1997 and subsequently converted into public limited company in 2011 and currently have presence across multiple prominent locations in Jaipur, Rajasthan.
Motisons started its jewellery business in 1997 with a single showroom in Jaipur, Rajasthan. Its first outlet, famously known as the ‘Traditional Store’ was set up amidst the famous lanes of the busiest Johri Bazaar, renowned jewellery hub in the heart of the city.
It primarily sources finished jewellery from third party suppliers located across India and its business involves sale of jewellery made of gold, diamond, kundan and sale of other jewellery products that include pearl, silver, platinum, precious, semi-precious stones and other metals, gold and silver coins, utensils and other artifacts across multiple prominent locations in Jaipur, Rajasthan.
Its product portfolio comprises of over 300,000+ jewellery designs that includes traditional, contemporary and combination designs for special occasions such as weddings and festivals to daily wear jewellery for all ages, genders and across various price points.
The table below shows subscription data for all the categories of investors: