Blockbuster debut: Motisons Jewellers share price opens with 98% premium at ₹109 on NSE
Motisons Jewellers share price made a stellar debut on the bourses today. On NSE, Motisons Jewellers share price today was listed at ₹109 per share, 98.18% higher than the issue price of ₹55. On BSE, Motisons Jewellers share price was listed at ₹103.90 apiece.
Analysts predicted that Motisons Jewellers IPO listing price would be between ₹115 and ₹125 per share. They stated that the Motisons Jewellers IPO listing could result in a listing gain of up to 135%.
Also Read: Motisons Jewellers IPO listing date today. GMP, experts signal over 100% gain
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On its third day of subscription, the Motisons Jewellers IPO received massive responses from all categories, bringing the total number of subscriptions to 159.61 times, on the last day. Motisons IPO subscription status was 51.50 times at the end of day 2. Motisons IPO was booked 15.02 times at the end of day 1.
Motisons Jewellers IPO has opened for subscription on Monday, December 18, and closed on Wednesday, December 20. Motisons Jewellers raised ₹36.3 crore from anchor investors on Friday, December 15. Motisons Jewellers IPO price band was set in the range of ₹52 to ₹55 per equity share of the face value of ₹10. Motisons Jewellers IPO lot size was 250 equity shares and in multiples of 250 equity shares thereafter.
Motisons Jewellers IPO 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.
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.
Motisons Jewellers IPO GMP today
Motisons IPO GMP today or grey market premium is +70, similar to the previous session. This indicates Motisons Jewellers share price were trading at a premium of ₹70 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 ₹125 apiece, which is 127.27% higher than the IPO price of ₹55.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: Motisons Jewellers IPO day 1 subscription status: Issue booked 15.02 times, GMP jumps
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 26 Dec 2023, 10:00 AM IST
