Motisons Jewellers Limited's IPO Offering of ₹151.09 Crores - Get Insights on GMP and Bidding Dates

Motisons Jewelers Limited is  launched its initial public offering (IPO) with the details given below.

 

Key IPO Details:

Bidding Dates:December 18 - December 20, 2023

  - Price Range:₹52 to ₹55 per share

  - Minimum investment: ₹13,000

  - Issue size: ₹151.09 crore

  - Lot Size: 250 shares

  Application Options:

  1. Regular Investor:

     - Price: ₹52-₹55 per share

     - Maximum investment:Up to ₹2,00,000

  2. High Net Worth Individuals:

     - Price: ₹52-₹55 per share

     - Investment Range: ₹2,00,000 - ₹5,00,000

  

About Motisons Jewellers:

  Established in 2011, Motisons Jewelers under the leadership of Managing Director Mr. Sanjay Chhabra, specialises in a diverse range of jewelery including gold, diamonds, kundan and various precious and semi-precious stones.  The company offers an extensive collection, which includes pearl, silver, platinum items and other metal jewelry.  Starting in 1997, they also cater to the preferences of gold and silver coins, utensils and artefacts.

  The company sources its products from third party suppliers across India, as well as carries out in-house manufacturing for diamond and gemstone jewellery.  Additionally, Motisons Jewelers ventured into the online market in 2011.

  Presence and Financial Status:

  The company boasts of a significant presence in Jaipur, Rajasthan, the hub of traditional jewelery manufacturing, with showrooms strategically located in prime shopping areas such as Johari Bazaar, Tonk Road and Vaishali Nagar.

  With regard to financial position, Motions Jewelers has shown a consistent growth path.  Their total revenue has seen a steady increase from ₹314.33 crore in 2021-22 and ₹213.04 crore in 2020-21 to ₹366.19 crore in 2022-23. 

 Similarly, the total profit has seen an increase to ₹22.19 crore in 2022-23, compared to ₹14.75 crore in 2021-22 and ₹9.67 crore in 2020-21.

Market Speculation on GMP:

  However, there is speculation that the company's GMP (grey market premium) is exceptionally high at ₹100, which could potentially impact its listing rate on the stock exchange.  

Investors are keeping a close eye on this aspect given its potential impact on the post-listing performance of Motisons Jewellers' shares.