Motisons Jewellers Shares Surge Over 98% on Debut
By Rediff Money Desk, NEWDELHI Dec 26, 2023 10:35
Motisons Jewellers shares soared over 98% on their debut trade, closing at Rs 109.09. The IPO was oversubscribed 159 times. Read more.
New Delhi, Dec 26 (PTI) Shares of Motisons Jewellers Ltd on Tuesday listed with a huge premium of over 98 per cent against the issue price of Rs 55.
The stock made its debut at Rs 103.90, up 88.90 per cent from the issue price on the BSE. Later, it zoomed 98.34 per cent to Rs 109.09.
At the NSE, the stock listed at Rs 109, reflecting a sharp jump of 98.18 per cent.
The company's market valuation stood at Rs 994.30 crore during the early trade.
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 had a price range of 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.
The stock made its debut at Rs 103.90, up 88.90 per cent from the issue price on the BSE. Later, it zoomed 98.34 per cent to Rs 109.09.
At the NSE, the stock listed at Rs 109, reflecting a sharp jump of 98.18 per cent.
The company's market valuation stood at Rs 994.30 crore during the early trade.
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 had a price range of 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.
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
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...