Motisons Jewellers Raises Rs 36 Crore From Anchor Investors
By Rediff Money Desk, NEWDELHI Dec 15, 2023 22:02
Jaipur-based Motisons Jewellers has raised over Rs 36 crore from anchor investors ahead of its initial public offering (IPO). The IPO, which opens on December 18, will raise Rs 151 crore at the upper end of the price band.

Photograph: Leonhard Foeger/Reuters
New Delhi, Dec 15 (PTI) Motisons Jewellers, a Jaipur-based retail jeweller company, on Friday said it has raised a little over Rs 36 crore from anchor investors days before its maiden public issue.
The company has allotted 66 lakh equity shares to two funds at Rs 55 apiece -- the upper end of the price band, according to a circular uploaded on the BSE website.
Meru Investment Fund PCC-Cell 1 bought 46 lakh equity shares amounting to Rs 25.3 crore, and Zinnia Global Fund PCC-Cell Dewcap Fund purchased 20 lakh shares valued at Rs 11 crore.
Together, they bought shares worth Rs 36.3 crore, data showed.
The maiden public issue is entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component.
The Initial Public Offering (IPO) with a price band of Rs 52-55 a share will open on December 18 and conclude on December 20.
At the upper end of the price band, the IPO will fetch Rs 151 crore.
Proceeds from the issue will be used for debt payment, funding the working capital requirement of the company and a portion will also be used for general corporate purposes.
Holani Consultants is the book-running lead manager for the issue. The equity shares are proposed to be listed on the BSE and the NSE.
The company has allotted 66 lakh equity shares to two funds at Rs 55 apiece -- the upper end of the price band, according to a circular uploaded on the BSE website.
Meru Investment Fund PCC-Cell 1 bought 46 lakh equity shares amounting to Rs 25.3 crore, and Zinnia Global Fund PCC-Cell Dewcap Fund purchased 20 lakh shares valued at Rs 11 crore.
Together, they bought shares worth Rs 36.3 crore, data showed.
The maiden public issue is entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component.
The Initial Public Offering (IPO) with a price band of Rs 52-55 a share will open on December 18 and conclude on December 20.
At the upper end of the price band, the IPO will fetch Rs 151 crore.
Proceeds from the issue will be used for debt payment, funding the working capital requirement of the company and a portion will also be used for general corporate purposes.
Holani Consultants is the book-running lead manager for the issue. The equity shares are proposed to be listed on the BSE and the NSE.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.28 ( -2.83)
- 28974110
- G G Engineering
- 1.27 ( -3.79)
- 22288103
- Spright Agro
- 7.61 (+ 4.97)
- 12896479
- Srestha Finvest
- 0.70 (+ 1.45)
- 12695501
- Mangalam Industrial
- 3.32 (+ 6.75)
- 9441884
MORE NEWS

Zomato Renames Itself to Eternal: What's Changing?
Zomato's board approves a name change to Eternal, affecting the company but not its...
Motherson Sumi Wiring India Q3 Profit Down...
Motherson Sumi Wiring India's net profit declined 16.6% to Rs 139.98 crore in Q3 FY25...
Rapido to Invest Rs 150 Cr in Bengal Mobility
Rapido plans to invest Rs 150 crore in West Bengal's mobility and infrastructure...