Motisons Jewellers IPO maintained its momentum on day two, with some blockbuster subscription numbers, with some incredible responses from both retail and non-institutional investors. Motisons IPO subscription status was 51.50 times at the end of day 2.
Motisons Jewellers IPO was fully subscribed on its first day within few minutes of opening led by both retail and NIIs. 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 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.
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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 3, Motisons Jewellers IPO's retail investors portion was subscribed 122.28 times, NII portion was subscribed 233.91 times, and QIB portion is booked 157.40 times.
Motisons Jewellers IPO subscription status
Motisons Jewellers IPO has received bids for 3,33,12,07,750 shares against 2,08,71,000 shares on offer, according to data from the BSE.
Motisons IPO retail investors' portion received bids for 1,30,38,20,250 shares against 1,06,62,250 shares on offer for this segment.
Motisons Jewellers IPO's non-institutional investors' portion received bids for 1,28,55,93,250 shares against 54,96,000 on offer for this segment.
Motisons IPO's QIBs portion received bids for 74,17,94,250 shares against 47,12,750 shares on offer for this segment.
Also Read: Last day to apply for Motisons Jewellers IPO; should you subscribe?
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 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: Motisons Jewellers IPO: Here are 10 things to know before subscribing
Motisons Jewellers IPO GMP today
Motisons Jewellers IPO GMP today or grey market premium is +72, from +78 from the previous session. This indicates Motisons Jewellers share price were trading at a premium of ₹72 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 ₹127 apiece, which is 130.91% higher than the IPO price of ₹55.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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: 20 Dec 2023, 04:42 PM IST
Motisons Jewellers IPO sees stellar demand on day 3, issue booked over 159 times so far; GMP drops | Mint - Mint
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