- By Aditya Pratap Singh
- Tue, 12 Dec 2023 12:24 PM (IST)
- Source:PTI
Motisons Jewellers on Tuesday said it has fixed a price band of Rs 52 to 55 a share for its initial public offering that will open on December 18.
The Jaipur-based retail jewelry company's issue will open on December 18 and close on December 20. The Initial Public Offering (IPO) is entirely a fresh issue of 2.74 crore equity shares and there is no Offer For Sale (OFS) component.
Also Read: Petrol-Diesel Price Today: Prices Revised In Lucknow, Patna, Jaipur; Check Latest Rate
At the upper end of the price band, the IPO will fetch Rs 151 crore.
Proceeds from the issue will be used for debt payment, funding the working capital requirement of the company and a portion will also be used for general corporate purposes.
Also Read: Sun Pharma Renew Offer price To Buy 100% Stake In Taro Pharma
Investors can bid for at least 250 equity shares and in multiples of 250 equity shares after that. Holani Consultants is the book-running lead manager for the issue. The equity shares are proposed to be listed on BSE and NSE. In October, the company garnered Rs 33 crore in its pre-IPO funding round.
(This story has been directly published from agency feed. No changes have been made except headline)