Motisons Jewellers IPO: Check what GMP indicates ahead of share allotment

Following an overwhelming response to the initial public offer that closed on Wednesday, Motisons Jewellers is commanding a fairly higher premium in the grey market, according to dealers.

The stock is trading at a premium of around Rs 78 to its issue price of Rs 55 a share in the unofficial market, dealers said.

Motisons Jewellers IPO Subscription

The initial public offer of the jewellery maker was subscribed 159.6 times at close on Wednesday, driven by strong interest from non-institutional buyers and qualified institutional buyers.

The category reserved for retail investors was subscribed 122.28 times, while the NII portion was subscribed by a massive 233.91 times. The portion reserved for QIBs was subscribed 157.4 times.

Considering the company’s strong brand, proven track record, and growth plans, alongside the current market sentiment, analysts recommended applying for the IPO.

Motisons Jewellers IPO Share Allotment
Share allotment of Motisons Jewellers is expected to be finalised on Thursday. Investors will receive shares on a lottery basis and the whole process is supervised by the registrar.

On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website.

Also Read: Motisons Jewellers IPO share allotment expected today. Here's how you can check status

Motisons Jewellers Company Details
Motisons Jewellers is a hyperlocal jewellery retail chain, headquartered in Jaipur with 4 showrooms. The company primarily sources finished jewellery from third-party suppliers across India and its business involves the sale of jewellery made of gold, diamond, kundan etc.

The product portfolio comprises over 300,000 jewellery designs, including a wide range of gold, diamond and other jewellery items across different price points.

Motisons Jewellers IPO Purpose
Of the total proceeds from the issue, the company will utilise Rs 58 crore for debt payment, Rs 71 crore for funding working capital requirements and a portion will also be used for general corporate purposes.

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