Jaipur based Motisons Jewellers makes Dalal Street debut, shares list at over 98.18% premium

 Jaipur based Motisons Jewellers makes Dalal Street debut, shares list at over 98.18% premium

 

Shares of Jaipur-based Motisons Jewellers made their debut on the exchange at a premium of 98.18%, higher than the IPO’s issue price of Rs 55.

 

The scrip listed Rs 103.90 per share on BSE and Rs 109.00 per share on NSE, at a premium of 88.90% and 98.18% respectively. The company's share price closed at Rs 101.18 per share on the BSE, an 83.96% premium, and at Rs 103.55 per share on the NSE, an 88.27% premium.

 

As per NSE, the total quantity traded stood at 89.49 lakh shares, on BSE the total Quantity stood at 37.63 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 133.55 crore.

 

The Market Capitalization of the Company at today’s closing price stood at Rs. 996.08 Crore as per BSE and Rs. 1,019.41 Crore as per NSE.

 

The Initial Public Offering of Motisons Jewellers Limited was subscribed 159.60 times. Retail Portion was subscribed 122.28 times, Non-Institutional Investors Portion with 233.91 times, whereas Qualified Institutional Buyer Portion subscribed 157.40 times.

 

Motisons Jewellers offers gold and silver coins, utensils and other artifacts. It had commenced its business through a partnership firm 'M/s Motisons Jewellers' in 1997 and subsequently converted into public limited company in 2011 and currently have presence across multiple prominent locations in Jaipur, Rajasthan.

 

Motisons started its jewellery business with a single showroom in Jaipur, Rajasthan. Its first outlet, famously known as the ‘Traditional Store’ was set up amidst the famous lanes of the busiest Johri Bazaar, renowned jewellery hub in the heart of the city.

 

It primarily sources finished jewellery from third party suppliers located across India and its business involves sale of jewellery made of gold, diamond, kundan and sale of other jewellery products that include pearl, silver, platinum, precious, semi-precious stones and other metals, gold and silver coins, utensils and other artifacts across multiple prominent locations in Jaipur, Rajasthan.

 

Its product portfolio comprises of over 300,000+ jewellery designs that includes traditional, contemporary and combination designs for special occasions such as weddings and festivals to daily wear jewellery for all ages, genders and across various price points.