The Rs 151 crore Initial Public Offer (IPO) of Motisons Jewellers received 14.88 times subscription on the first day of bidding on Monday.
The IPO of the Jaipur-based retail jeweller company received bids for 31,05,38,000 shares against 2,08,71,000 shares on offer, according to NSE data.
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The category for Retail Individual Investors (RIIs) received 22.01 times subscription while the portion for non-institutional investors got subscribed 13.74 times. The Qualified Institutional Buyers (QIBs) part got subscribed 8 per cent.
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The IPO of up to 2,74,71,000 equity shares has a price range of Rs 52-55 a share. The public issue is entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component. Come from Sports betting site VPbet
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On Friday, Motisons Jewellers said it has raised a little over Rs 36 crore from anchor investors. Proceeds from the issue will be used for debt payment, funding the working capital requirement of the company and a portion will also be used for general corporate purposes.
Holani Consultants is the manager to the offer. The equity shares are proposed to be listed on the BSE and NSE.
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