- By Aditya Pratap Singh
- Tue, 26 Dec 2023 11:16 AM (IST)
- Source:JND
Mottisons Jewelers IPO Listing: Shares of Mottisons Jewelers became multi-bagger on debut on December 26. The shares of the Jaipur-based company were listed at a premium of 98 per cent against the upper level of the IPO's issue price. The shares started trading at Rs.109 as compared to the IPO price of Rs 55 on NSE.
The Rs 151 crore public offering was open for subscription during December 18-20 and was subscribed 159.61 times. It has attracted strong participation from all segments of investors in the IPO. High net worth individuals opted for 233.91 times the allotted quota, qualified institutional buyers bidding 157.40 times and retail investors subscribed 122.28 times against the reserved quota.
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As per reports, besides normal corporate benefits, the company will use the net fresh issue proceeds to repay its debt (Rs 58 crore) and working capital requirements (Rs 71 crore). Its total borrowings stood at Rs 166 crore as of June FY24.
The jewellery retail company owned by the Jaipur-based Chhabra family has shown strong revenue growth over the last three years, with net profit doubling in the last two years.
Following its strong IPO subscription numbers, market experts are very bullish on the listing of Motisons Jewellers' shares. Ahead of the launch, Motisons Jewellers' grey market premium (GMP) was steady at Rs 70 in the unlisted market, indicating multi-bagger listing gains for investors.
Mottisons Jewelers IPO Listing Details
Listing Price - Rs 109 on NSE
Listing Date - December 26
Gain/Loss on Listing - Listed With 98 per cent gain
Mottisons Jewelers IPO Details
Opened For Subscription - December 18-20
Price Range - Rs 52-55
Lot Size of Mottisons Jewelers IPO - 250 shares
Minimum Investment - Rs 13,000
IPO Issue Size - Rs 151.09 cr
Subscription status - 159.50 times
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