Motisons Jewellers’ initial public offering (IPO) is set to commence its subscription period from December 18 to December 20. The allocation process for anchor investors is scheduled for December 15.
Having submitted its DRHP in March of this year, the company obtained regulatory approval in September. Subsequently, in October, the Jaipur-based retail jeweller secured INR 33 crore in its pre-IPO funding round.
The price band for the IPO, involving a completely new issue of 2.71 crore shares, will be announced on Tuesday.
Approximately 50% of the offering is set aside for qualified institutional buyers, with 35% allocated to retail investors, and the remaining 15% designated for non-institutional investors.
The funds generated from the issue will be allocated as follows: INR 58 crore for debt repayment, INR 71 crore to meet the company’s working capital needs, and a portion will be earmarked for general corporate purposes.
Motisons Jewellery operates as a hyperlocal jewellery retail chain based in Jaipur, boasting four showrooms, including a flagship location. The company predominantly acquires finished jewellery from various third-party suppliers throughout India. Its core business revolves around the retail of jewellery crafted from materials such as gold, diamonds, kundan, and more.
The product lineup encompasses more than 300,000 jewellery designs, featuring a diverse selection of gold, diamond, and other jewellery items available at various price points.
In the quarter ending June, the company recorded a revenue of INR 86.7 crore and a profit of INR 5.47 crore.
In the fiscal year 2023, the company witnessed a 16% year-on-year increase in revenue from operations, reaching INR 366 crore, and a notable 51% surge in profit, amounting to 22.19 crore.
Holani Consultants serves as the exclusive book-running lead manager for the offering, while Link Intime India Private Limited is appointed as the registrar.
The allotment of shares for the IPO is scheduled for December 21, with a tentative listing date set for December 26.