Motisons Jewellers IPO booked 159.61 times, retail portion 122.28 times on final day

Ahead of the IPO, Motisons Jewellers raised Rs 36.3 crore from two anchor investors

The Motisons Jewellers IPO was subscribed 159.61 times on December 20, the final day of bidding, with bids for 333.12 crore shares against an issue size of 2.08 crore shares. Retail investors bought 122.28 times and high net-worth individuals (HNIs) picked up 233.91 times the allotted quota, while qualified institutional buyers (QIBs) booked 157.4 times the reserved portion.

Motisons Jewellers plans to raise Rs 151.09 crore from the IPO, which solely comprises a fresh issue of 2.74 crore shares. Half of the offered size has been reserved for QIBs and 15 percent for HNIs. The price band for the issue has been fixed at Rs 52-55 per share with a lot size of a minimum of 250 equity shares, followed by multiples of 250.

Of the net fresh issue proceeds, the jewellery company plans to spend Rs 58 crore on repayment of debt and Rs 71 crore on working capital requirements. The rest would be used for general corporate purposes.

Also read: Motisons Jewellers IPO: 10 things to know before subscribing to Rs 151 crore issue

Ahead of the IPO, the company secured Rs 36.3 crore from two anchor investors on December 15. Notably, Meru Investment Fund PCC-Cell 1 acquired 46 lakh equity shares, totalling Rs 25.3 crore, while Zinnia Global Fund PCC-Cell Dewcap Fund invested 20 lakh shares, valued at Rs 11 crore.

Holani Consultants is the merchant banker to the issue, while Link Intime India is the registrar to the offer.

Established in October 1997, the company sells gold, diamond and kundan jewellery. Motisons also sell pearls, silver, platinum and other metals. Motisons Jewellers' flagship store Motisons Tower is in Jaipur, Rajasthan. The latest branch, which opened in 2021, is in the Vaishali Nagar neighbourhood in the southwestern part of Jaipur.