The financial markets are abuzz with anticipation as Motisons Jewellers, a well-known name in the jewellery industry, prepares to unveil the allotment status of its much-awaited initial public offering (IPO) on Thursday, December 21. Investors who participated in the bidding process are poised to receive notifications via messages, alerts, or emails indicating the debit of funds or the revocation of their IPO mandate by Friday or potentially over the ensuing weekend.
The IPO of Motisons Jewellers was met with enthusiastic response from investors, receiving an overwhelming demand during its bidding phase held between December 18 to December 20. Priced in the range of Rs 52-55 per share with a lot size of 250 shares, the primary offering aimed to raise slightly over Rs 151 crore, which comprised the sale of 2,74,71,000 fresh shares.
The staggering subscription figures further underscore the market's interest in the IPO, with an overall subscription rate of 159.61 times. Notably, the portion earmarked for qualified institutional bidders (QIBs) witnessed a subscription rate of 157.40 times, while the non-institutional investors' category was subscribed at a striking 233.91 times. Retail investors also displayed substantial interest, subscribing at 122.28 times the allotted quota during the three-day bidding process.
However, the grey market premium (GMP) for Motisons Jewellers experienced a notable decline from its peak due to selling pressure in the broader markets. Initially projected at a premium range of Rs 78-80 per share, suggesting an impressive listing pop of 140-145 percent for investors, it adjusted to a lower range of Rs 100-105 before the commencement of the bidding process.
Motisons Jewellers, established in October 1997, specializes in the retail of gold, diamond, kundan jewellery, and an array of other jewellery products. Renowned for its extensive line of traditional, modern, and fusion designs across various jewellery categories, the company operates its flagship store, Motisons Tower, situated in Jaipur, Rajasthan.
Analysts and brokerage firms exhibited largely positive sentiments towards the Motisons Jewellers IPO, advocating subscription due to the company's strong two-decade-long track record, growing demand among younger demographics, expanding retail network, and integration of technology. However, cautionary notes were sounded concerning potential vulnerability to negative publicity and seasonal fluctuations in demand.
Holani Consultants acted as the sole book running lead manager for the IPO, with Link Intime India Private serving as the registrar for the issue. The eagerly awaited listing of Motisons Jewellers shares on both BSE and NSE is scheduled for December 27, Tuesday.
Investors eager to check their allotment status can do so by visiting the BSE website's IPO application check page, selecting 'Motisons Jewellers Limited' from the dropdown menu, and entering their application number and PAN card details. Additionally, the allotment status can be accessed through the online portal of Link Intime India by selecting the Motisons Jewellers IPO and entering PAN Card number, Application Number, or DP Client ID.
The impending announcement of the allotment and subsequent listing has set the stage for a significant moment in the financial markets, with stakeholders eagerly awaiting the next chapter in Motisons Jewellers' journey as a publicly traded entity.
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