Motisons IPO Price Range: Motisons Jewelers IPO price range has been set in the range of ₹52 to ₹55 per share of par value ₹10. The subscription date for the IPO of Motisons Jewelers is scheduled for Monday, December 18th and closes on Wednesday, December 20th. Allotment to anchor investors for Motisons Jewelers IPO is scheduled for Friday, December 15.
The minimum price is 5.20 times the par value of the shares and the maximum price is 5.50 times the par value of the shares. The price-earnings ratio based on diluted EPS for fiscal year 2023 is 23.06 times at the floor price and 24.39 times at the maximum price. The lot size of Motisons Jewelers IPO is 250 shares and thereafter in multiples of 250 shares.
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Motisons Jewelers IPO has reserved not less than 50% of the shares of 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 offering is reserved for retail investors.
The basis for allotment of shares pursuant to Motisons Jewelers IPO is expected to be completed on Thursday, December 21st and the company will issue refunds on Friday, December 22nd while shares will be issued on the same day after refund be credited to the demat account of the allottees. Motisons Jewelers IPO shares are expected to list on the BSE and NSE on Tuesday, December 26. Since T+3 listing is mandatory from December 1, 2023, Motison's IPO will be listed on primary markets this month in accordance with this norm.
Also Read: Sebi approves Samhi Hotels and Motisons Jewelers to conduct IPOs
Motisons Jewelers IPO details
Motisons Jewelers IPO comprises fresh issue of shares of up to 2,74,71,000 shares of par value ₹10 each, according to Red Herring Prospectus (RHP).
The Company intends to use the net proceeds of the new offering to fund the following objectives: meeting the Company's working capital needs; general corporate purposes; and repayment of the company's outstanding loans from regular commercial banks.
The registrar of the IPO of Motisons Jewelers is Link Intime India Private Ltd and the underwriter of the offer is Holani Consultants Private Limited.
Motisons Jewelers Limited sells jewelry made of gold, diamonds and kundans and other jewelry made of metals like pearls, silver, platinum and other alloys.
The company offers a variety of jewelry lines with a wide range of products including combination, traditional and modern designs. These products include everyday jewelry for all ages and genders as well as items for special occasions such as festivals and weddings, all in different price ranges.
According to the company's RHP, its listed competitors are Goldiam International Limited (with a P/E ratio of 27.55), DP Abhushan Limited (with a P/E ratio of 29.09), Thangamayil Jewelery Limited (with a P/E ratio of 24.08) and Renaissance Global Limited (with a P/E ratio of 48.00).
According to reports, Motisons Jewelers Limited recorded an increase in sales of 16.64% and profit after tax (PAT) of 50.51% for the financial year ended March 31, 2022 and March 31, 2023.
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