Motisons Jewellers IPO: All You Need to Know
1. The IPO of Motisons Jewellers, located in Jaipur, is set to open on 18th December. The company aims to raise Rs. 151 crore through the IPO.
2. Investors will have the opportunity to invest in this IPO until 20th December. The IPO will be open for anchor investors for one day on 15th December.
3. The IPO will issue 2.74 crore new shares of Motisons Jewellers. There will be no sale under the offer for sale, meaning the entire amount raised through the IPO will go to the company.
4. The IPO is divided into three categories ★50% for qualified institutional buyers, 15% for high net worth individuals, and the remaining 35% reserved for retail investors.
5. The company has already raised Rs. 33 crore through a pre-IPO placement of 60 lakh equity shares at a price of Rs. 55 per share. This has reduced the size of the IPO from 3.34 crore equity shares to 2.74 crore equity shares.
6. Important dates: Successful investors will receive their shares by 21st December. These shares will be credited to the demat accounts of eligible investors by the end of 22nd December. Due to the Christmas holiday on 25th December, there is a possibility of a surge in share prices on 26th December.
7. Use of funds: Out of the IPO proceeds, Motisons Jewellers will utilize Rs. 58 crore to repay loans and Rs. 71 crore for working capital requirements. The remaining funds will be used for general corporate purposes.
About Motisons Jewellers:
Motisons Jewellers started its jewelry business in Jaipur in 1997 with a single showroom. The company expanded its network to 4 showrooms under the Motisons brand. In recent years, the company has achieved impressive financial performance.
In the financial year ending March 2023, the company’s net profit increased by 50.5% to Rs. 22.2 crore. In comparison to the previous year, the company’s revenue grew by 16.5% to Rs. 366.2 crore. In the June quarter, the company reported a net profit of Rs. 5.5 crore.
With the upcoming IPO, Motisons Jewellers aims to further expand its business and continue its growth trajectory in the jewelry industry.
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