Motisons Jewellers, the jewelry retail company headquartered in Jaipur, marked a robust initiation into the stock market on Tuesday, December 26, with an impressive 100% premium on its first day of trading.
Listing at Rs 109 on the National Stock Exchange (NSE), the stock exhibited a substantial 98% premium over its issue price of Rs 55 per share. Similarly, on the Bombay Stock Exchange (BSE), the stock was listed at ₹103.90, underscoring a strong and promising debut for Motisons Jewellers.
Motisons Jewellers’ Initial Public Offering (IPO) saw an overwhelming subscription, closing at an impressive 159.6 times, driven by substantial interest from both qualified institutional buyers and non-institutional investors.
Conducted between December 18 and December 20, the public issue featured a price band of Rs 52-55 per share, with a lot size set at 250 shares. Motisons Jewellers successfully raised slightly over Rs 151 crore from its initial stake sale.
The capital procured will be strategically allocated, with Rs 58 crore earmarked for the repayment of debts and Rs 71 crore directed towards fulfilling working capital requirements. Additionally, the remaining funds will be utilized for general corporate purposes, outlining a prudent financial strategy for the company’s future endeavors.
