Motisons Jewellers has set a price band of INR 52-55 for its IPO, with the subscription period opening on December 18 and closing on December 20.
At the higher limit of the price band, the company aims to generate INR 151 crore. Investors have the option to bid for a minimum of 250 shares in one lot, with the opportunity to bid in multiples thereafter.
The IPO constitutes an entirely new equity offering of 2.71 crore shares.
Approximately 50% of the allocation is earmarked for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.
The funds generated from the offering will be allocated as follows: INR 58 crore for debt repayment, INR 71 crore for meeting the company’s working capital needs, and a portion will also be earmarked for general corporate purposes.
In October of this year, the retail jeweller based in Jaipur secured INR 33 crore in its pre-IPO funding round.
Motisons Jewellers operates as a hyperlocal jewellery retail chain in Jaipur, boasting four showrooms, including a flagship location. The company predominantly acquires finished jewellery from various third-party suppliers throughout India, specializing in the sale of gold, diamond, kundan, and other types of jewellery.
The product lineup encompasses more than 300,000 jewellery designs, featuring a diverse selection of gold, diamond, and various other jewellery products available at different price points.
In the quarter concluding in June, the company recorded a revenue of INR 86.7 crore and a profit of INR 5.47 crore. For the fiscal year 2023, its revenue from operations witnessed a 16% year-on-year (YoY) increase, reaching INR 366 crore, with profits surging by 51% to INR 22.19 crore.
Holani Consultants serves as the exclusive book-running lead manager for the offering, while Link Intime India Private Limited is the appointed registrar.
The IPO share allotment is scheduled for December 21, and the anticipated listing date is December 26.