Motisons Jewelers IPO: Subscribed 98% on NSE & 89% premium on BSE

Motisons Jewelers IPO listed on December 18, 2023, and closed on December 20, 2023, raising Rs. 151 crores.

The IPO price band was set at Rs. 52 to Rs. 55 per share. The allotment date for Motisons Jewelers IPO was December 21, 2023.

On December 26, 2023, the shares of Motisons Jewelers made a strong entry in the stock market.

The IPO shares were listed at Rs. 109 per share on the National Stock Exchange and Rs. 103.90 per share on the Bombay Stock Exchange.

Investors gained approximately 98% on the National Stock Exchange and 89% on the Bombay Stock Exchange, resulting in profitable returns.

Use of Motisons Jewelers IPO Fund

Motisons Jewelers IPO: Subscribed 98% on NSE & 89% premium on BSE

Motisons Jewelers’ IPO consisted of a fresh issue of 2.75 crore shares. The company is owned by the Chhabra family. The proceeds from this IPO will be allocated for specific purposes: Rs. 58 crore for debt repayment, Rs. 71 crore for enhancing working capital, and the remaining amount for general corporate purposes.

Over the past three years, the company has demonstrated robust revenue growth, with profits doubling in the last two years.

Additionally, in the fiscal year ending March FY23, the company achieved a 16.5% growth in revenue.

Motisons Jewelers IPO Subscription Status

Motisons Jewelers’ IPO garnered an overwhelming response across all categories, achieving a subscription rate of 173.03 times.

The Qualified Institutional Buyer (QIB) category saw a subscription rate of 135.01 times, indicating a strong interest from entities like mutual funds, pension funds, insurance companies, and banks.

The Non-Institutional Investor (NII) category witnessed a remarkable subscription of 311.93 times.

This category comprises Indian citizens, NRIs (Non-Resident Indians), HUFs (Hindu Undivided Families), trusts, and societies applying for more than 2 lakh shares.

In contrast, the Retail Investor category, which includes individuals like us, saw a subscription rate of 135.22 times for the Azad Engineering IPO.

Kind of Subscribe
QIB (Qualified Institutional Buyer) 135.01
NII (Non Institutional Investor) 311.93
Retail (Retail Investor) 135.22

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