Motisons Jewellers IPO Over-Subscribed 159 Times
Dec 20, 2023 18:47
Motisons Jewellers IPO was oversubscribed 159.61 times on the final day, with strong demand from all investor categories. The Jaipur-based retailer raised over Rs 36 crore from anchor investors.
New Delhi, Dec 20 (PTI) Motisons Jewellers' initial public offer was subscribed a whopping 159.61 times on the last day of share sale on Wednesday.
The Rs 151 crore-initial share sale of the Jaipur-based retail jeweller company fetched bids for 3,33,11,48,000 shares against 2,08,71,000 shares on offer, according to NSE data.
The part meant for non-institutional investors got subscribed 233.91 times while Qualified Institutional Buyers (QIBs) portion received 157.40 times subscription. The quota for Retail Individual Investors (RIIs) attracted 122.28 times subscription.
The Initial Public Offering (IPO) of up to 2,74,71,000 equity shares had a price range at Rs 52-55 a share.
The public issue was entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component.
On Friday, Motisons Jewellers said it has raised a little over Rs 36 crore from anchor investors.
Proceeds from the issue will be used for debt payment, funding the working capital requirement of the company and for general corporate purposes.
Holani Consultants was the manager to the offer.
The equity shares are proposed to be listed on the BSE and NSE.
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