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IPO screener: Motisons Jewellers shares to be listed today

Shares of Motisons Jewellers will be listed at the bourses today. The issue price at ₹55, is at the upper end of the price band of ₹52-55.

The initial public offering of the Jaipur-based jewellery was subscribed 173.23 times, with HNI and retail investors giving it a strong response.

The portion set aside for retail investors was subscribed 135.60 times, while the non-institutional quota being subscribed 312 times and the QIB portion 135.01 times.

The company hit the primary market to raise ₹151 crore. The entire issue from the Chhabra family-owned jewellery maker was a fresh issue of 2.74 crore shares.

Ahead of the IPO, the company mobilised ₹36.3 crore from two anchor investors – Meru Investment Fund PCC-Cell 1, who bought 46 lakh equity shares, and Zinnia Global Fund PCC-Cell Dewcap Fund 20 lakh shares.

Of the net fresh issue proceeds, ₹58 crore will be utilised for debt repayment, ₹71 crore for working capital requirements and the remaining for general corporate purposes.

Motisons had earlier secured ₹33 crore through a pre-IPO placement at the same valuation, preceding the submission of a red herring prospectus to the Registrar of Companies (ROC).

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