Motions Jewelers to debut on stock exchanges on December 26 amid fall in grey market premium

  Motisons Jewellers, known for its wide range of jewellery, is all set to debut on the stock exchanges on December 26 following its initial public offering (IPO).  The IPO, open for bidding from December 18 to December 20, 2023, saw a price range of ₹52 to ₹55 per share, with a minimum investment of ₹13,000 and a lot size of 250 shares, with an issue size of ₹151.09 crore.

Established in 2011 under the leadership of Managing Director Mr. Sanjay Chhabra, Motisons Jewelers has carved a niche for itself in the jewelery market with expertise in gold, diamonds, kundan and various precious stones.  The company expanded its portfolio since 1997 to meet the demand for gold and silver coins, utensils and artefacts, as well as pearl, silver, platinum items and other metal jewellery.

  With showrooms strategically located at prime locations in the traditional jewelery manufacturing hub, Jaipur, Rajasthan, Motisons Jewelers has demonstrated a consistent financial trajectory.  Its revenue grew steadily from ₹213.04 crore in 2020-21 to ₹366.19 crore in 2022-23, with a parallel increase in total profit to ₹22.19 crore during the same period.

  However, market speculation regarding the gray market premium (GMP) of Motions Jewelers has been a subject of interest.  GMP, which was initially at ₹182%, has fallen to ₹136%, leading to a change in market sentiment.  Currently, the company's premium is at ₹75-82, lower than the previous high of ₹100.

  The GMP fluctuations have sparked speculation about its possible impact on the listing rate of Motions Jewelers on the stock exchange.  Market analysts are closely tracking these developments, anticipating the stock's performance on its first day, keeping in mind various GMP trends.

  Investors and stakeholders are eagerly awaiting the listing of Motions Jewellers, keeping an eye on its market performance and potential amid the emerging GMP dynamics.