Motisons Jewellers Gears Up for IPO: Sets Price Band at Rs 52-55

12 Dec 2023 , 10:16 AM

Established in 1997 with a lone showroom in Jaipur, Motisons Jewellers has evolved into a thriving enterprise with a network of four showrooms under the distinguished Motisons brand. The company boasts a diverse array of offerings, spanning traditional, contemporary, and fusion designs across various jewelry categories. These encompass jewelry suitable for special occasions such as weddings and festivals, as well as daily wear options tailored to all age groups and genders, catering to a broad spectrum of price points.

1. Public Issue Details:
   • Price Band: Rs 52-55 per share
   • Total Fund Raise Target: Rs 151.09 crore
   • IPO Type: Only fresh issue of 2.74 crore equity shares
2. Timeline:
   • Subscription Period: December 18 to December 20, 2023
   • Anchor Book Opening for Institutional Investors: December 15, 2023
   • Basis of Allotment: December 21, 2023
   • Initiation of Refunds: December 22, 2023
   • Credit of Shares to Demat: December 22, 2023
   • Listing Date: December 26, 2023
3. Use of Funds from Fresh Issue:
   • Rs 58 crore for repayment of debt
   • Rs 71 crore for working capital requirements
   • Remaining for general corporate purposes
4. Pre-IPO Placement:
   • Rs 33 crore raised through a pre-IPO placement at Rs 55 per share
   • Fresh issue size reduced to 2.74 crore shares from the initially mentioned 3.34 crore shares in the DRHP
5. Investment Details:
   • Investors can bid for a minimum of 250 equity shares and in multiples of 250 shares thereafter.
   • Minimum investment amount for retail investors: Rs 13,750 for 250 shares
   • Maximum investment for retail investors: Up to Rs 1,92,500 (limited to Rs 2 lakh investment limit in any IPO)
6. Allocation:
   • 50% of the issue size reserved for qualified institutional buyers
   • 15% reserved for high net worth individuals
   • 35% reserved for retail investors
7. Company Background:
   • Motisons Jewellers started its jewellery business in 1997 with a single showroom in Jaipur.
   • Currently operates with a network of four showrooms under the Motisons brand.
8. Lead Manager:
   • Book running lead manager to the issue is Holani Consultants.

Motisons Jewellers’ premier establishment, ‘Motisons Tower,’ occupies a substantial 16,002.06 square feet in Jaipur, Rajasthan. The three-story flagship store dedicates distinct floor spaces to silver, gold, and diamond jewelry. Additionally, the company’s latest outlet, inaugurated in 2021, graces the upscale neighborhood of Vaishali Nagar in the southwestern part of Jaipur, Rajasthan.