Jaipur-based hyperlocal jewelry retail chain Motisons Jewelers has set the price range for its initial public offering at ₹52-55 per share.
The IPO opens for subscription on Monday and closes on Wednesday.
Investors can bid for a minimum of 250 shares and in multiples of 250 shares thereafter.
The public issue at par value of ₹10 per share will be purely a fresh issue of up to 2,74,71,000 equity shares without any 'offer for sale' component.
Motisons Jewelers is led by second-generation entrepreneurs, Sandeep Chhabra, Chairman and Whole-time Director, and Sanjay Chhabra, Managing Director, who have over two decades of experience in the jewelry industry.
The company had started operations in 1997 through a partnership firm, Motisons Jewellers, and was converted into a public limited company in 2011. It has branches at multiple locations in Jaipur.
The Company sources finished jewelry primarily from third-party suppliers across India and sells jewelry made of gold, diamonds, kundan, pearls, silver, platinum, precious and semi-precious stones and other metals, gold and silver coins, utensils and other artifacts.
The product portfolio includes over 300,000 jewelry designs, including traditional, contemporary and combination designs for special occasions such as weddings and festivals to jewelry for everyday wear.
The shares are proposed to be listed on the BSE and NSE.
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