Motisons Jewellers IPO announces price band at ₹52-55 per share: GMP, issue details, more

Motisons IPO price band: The Motisons Jewellers IPO price band has been set in the range of ₹52 to ₹55 per equity share of the face value of ₹10. The Motisons Jewellers IPO date of subscription is scheduled for Monday, December 18, and will close on Wednesday, December 20. The allocation to anchor investors for the Motisons Jewellers IPO is scheduled to take place on Friday, December 15.

The floor price is 5.20 times the face value of the equity shares, and the cap price is 5.50 times the face value of the equity shares. The price-to-earnings ratio based on diluted EPS for the financial year 2023 at the floor price is 23.06 times and at the cap price is 24.39 times.  The Motisons Jewellers IPO lot size is 250 equity shares and in multiples of 250 equity shares thereafter.

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Motisons Jewellers IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Tentatively, Motisons Jewellers IPO basis of allotment of shares will be finalised on Thursday, December 21 and the company will initiate refunds on Friday, December 22, while the shares will be credited to the demat account of allottees on the same day following refund. Motisons Jewellers IPO shares are likely to be listed on BSE and NSE on Tuesday, December 26. Given that T+3 listing is mandatory as of December 1, 2023, Motisons IPO will list on primary markets this month under this norm.

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Motisons Jewellers IPO details

Motisons Jewellers IPO comprises a fresh issue of shares of up to 2,74,71,000 equity shares of face value of ₹10 each, as per Red Herring Prospectus (RHP).

The company intends to use the net proceeds of the fresh offering to finance the following goals: meeting the company's working capital needs; general corporate purposes; and repaying the company's outstanding loans from scheduled commercial banks.

The registrar of the Motisons Jewellers IPO is Link Intime India Private Ltd, and the book running lead manager of the offering is Holani Consultants Private Limited.

Motisons Jewellers Limited sells jewellery crafted from gold, diamonds, and kundans in addition to other jewellery items made of metals like pearl, silver, platinum, and other alloys.

The company offers a variety of jewellery lines with a wide range of products, including combination, traditional, and modern designs. These products include daily wear jewellery for all ages and genders, as well as items for special occasions like festivals and weddings, all at varying price points.

As per the company's RHP, its listed peers are Goldiam International Limited (with P/E of 27.55), DP Abhushan Limited (with P/E of 29.09), Thangamayil Jewellery Limited (with P/E of 24.08), and Renaissance Global Limited (with P/E of 48.00).

During the fiscal year that ended on March 31, 2022, and March 31, 2023, Motisons Jewellers Limited saw increases in revenue of 16.64% and profit after tax (PAT) of 50.51%, as per reports.

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Motisons Jewellers IPO GMP today

Motisons Jewellers IPO GMP today or grey market premium is +60. This indicates Motisons Jewellers share price were trading at a premium of ₹60 in the grey market, according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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