As the bumper IPO month continues, Motisons Jewellers initial public offering became a smash hit for the Indian markets as it was subscribed nearly 160 times on the last day of the issue on Wednesday.
Motisons Jewellers IPO was subscribed a total of 159.61 times. The Jaipur-based jewellery company fetched bids for 3,33,11,48,000 shares against 2,08,71,000 shares on offer, according to NSE data.
The IPO of Motisons Jewellers was launched to raise ₹151 crore, and the price band of the same was ₹52-55 apiece. The initial public offering was launched for the sale of a total 2,74,71,000 equity shares.
The public issue was entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component. Here are the top highlights of the IPO, and the impact it has made on the market.
Motisons Jewellers IPO: Key highlights and GMP
Motisons Jewellers IPO was launched on December 18, Monday, and closed on December 20, Wednesday. The IPO was launched after the company raised a little over ₹36 crore from anchor investors on December 15.
Overall, the IPO was subscribed a whopping 159.61 times on the last day of share sale on Wednesday. The public issue was entirely a fresh issue, with no Offer For Sale (OFS) component.
The part meant for non-institutional investors got subscribed 233.91 times while the Qualified Institutional Buyers (QIBs) portion received 157.40 times subscription. The quota for Retail Individual Investors (RIIs) attracted 122.28 times subscription.
After the IPO closed on Wednesday evening, the grey market issue of Motisons Jewellers remained steady at ₹78, showing optimism for new investors. However, it must be noted that the GMP should not be measured as the success of an IPO.
With inputs from PTI