Motisons Jewelers IPO has received a lot of interest from investors. Many people wanted to buy shares in the company, and it was even more popular than expected.
The IPO, which is a way for the company to raise money by selling shares to the public, was subscribed 173.13 times.
The subscription process started on Monday, December 18, and ended on Wednesday, December 20.
Before this, on Friday, December 15, Motisons Jewelers had already raised ₹36.3 crore from anchor investors.
The price for one share in the IPO was set between ₹52 and ₹55, and people had to buy at least 250 shares.
Different types of investors, like institutions and regular people, were allowed to buy shares.
Retail investors bought 119.41 times the shares available to them, non-institutional investors bought 233.16 times, and qualified institutional buyers bought 157.40 times.
Now, the shares are expected to be listed on the stock exchanges BSE and NSE on Tuesday, December 26.
The company will decide how many shares each person gets on Thursday, December 21, and will start giving back the money to those who didn’t get any shares on Friday, December 22.
Currently, in the gray market, which is an unofficial market, people are willing to pay ₹78 more for each share than the original IPO price.
This suggests that when the shares are officially listed, their price might be around ₹133, which is 141.82% higher than the IPO price of ₹55.
