Motisons Jewellers Ltd.'s opened its initial public offering of Rs 151 crore on Monday.
The maiden issue is priced in the band of Rs 52–55 per share. The IPO will conclude on Wednesday.
The IPO includes a fresh issue up to 2.75 crore shares with a face value of Rs 10 each. The jewellery maker will use the proceeds to reduce existing borrowing taken from the commercial banks.
Motisons Jewellers has done a pre-IPO placement of 60 lakh shares at a price band of Rs 55 each for a cash consideration of up to Rs 33 crore.
Business
Motisons Jewellers was established in 1988 in Jaipur. With time, the company was able to expand across the country with a reputation of one of the prime jewellery makers.
Subscription Status: Day 1
The IPO has been subscribed 15.02 times as of 5 p.m. on Monday.
Institutional investors: 0.08 times or 8%
Non-institutional investors: 13.82 times
Retail investors: 22.24 times
Watch IPO Adda With Motisons Jewellers' Management
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