Motisons Jewellers IPO day 1 subscription status: Issue booked 15.02 times, GMP jumps

Motisons IPO subscription status: Motisons Jewellers IPO has been fully subscribed on its first day within few minutes of opening led by both retail and non-institutional investors (NIIs). Motisons IPO has been booked 15.02 times at the end of day 1.

Motisons Jewellers IPO has opened for subscription today (Monday, December 18), and will close on Wednesday, December 20. Motisons Jewellers raised ₹36.3 crore from anchor investors on Friday, December 15. Motisons Jewellers IPO price band has been set in the range of ₹52 to ₹55 per equity share of the face value of ₹10. Motisons Jewellers IPO lot size is 250 equity shares and in multiples of 250 equity shares thereafter.

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.

On day 1, Motisons Jewellers IPO's retail investors portion was subscribed 22.24 times, NII portion was subscribed 13.82 times, and QIB portion is booked 8%.

Motisons Jewellers IPO subscription status

Motisons Jewellers IPO has received bids for 31,34,36,250 shares against 2,08,71,000 shares on offer, according to data from the BSE.

Motisons IPO retail investors' portion received bids for 23,70,95,750 shares against 1,06,62,250 shares on offer for this segment.

Motisons Jewellers IPO's non-institutional investors' portion received bids for 7,59,45,500 shares against 54,96,000 on offer for this segment.

Motisons IPO's QIBs portion received bids for 3,95,000 shares against 47,12,750 shares on offer for this segment.

Also Read: Motisons Jewellers IPO opens today. GMP, price, subscription status, other details. Should you apply?

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.

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

Motisons Jewellers IPO date 

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.

Also Read: INOX India IPO: GMP soars on strong subscription status. Should you apply as bidding ends today?

Motisons Jewellers IPO GMP today

Motisons Jewellers IPO GMP today or grey market premium is +120, much higher than previous session's +106. This indicates Motisons Jewellers share price were trading at a premium of ₹120 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Motisons Jewellers share price was indicated at ₹175 apiece, which is 218.18% higher than the IPO price of ₹55.

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

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