The Rs 151 crore Initial Public Offer (IPO) of Motisons Jewellers received 14.88 times subscription on the first day of bidding on Monday.
The IPO of the Jaipur-based retail jeweller company received bids for 31,05,38,000 shares against 2,08,71,000 shares on offer, according to NSE data.
The IPO of up to 2,74,71,000 equity shares has a price range of Rs 52-55 a share. The public issue is entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component.
On Friday, Motisons Jewellers said it has raised a little over Rs 36 crore from anchor investors. Proceeds from the issue will be used for debt payment, funding the working capital requirement of the company and a portion will also be used for general corporate purposes.
Holani Consultants is the manager to the offer. The equity shares are proposed to be listed on the BSE and NSE.
