Motisons Jewelers’ shares could potentially see a significant increase of over 180% on the very first day, as suggested by the Gray Market Premium (GMP).
This premium is the difference between the current trading price in the gray market and the price at which the initial public offering (IPO) is set.
Motisons Jewelers’ IPO is set to open on December 18 and will be available for subscription until December 20. The total value of the public issue is up to Rs 151.09 crore.
The expected listing price is around Rs 155. The IPO’s price band for Motisons Jewelers is Rs 52-55, but in the gray market, the company’s shares are already trading at a premium of Rs 100.
If investors secure shares at the upper price band of Rs 55, the listing could be around Rs 155.
This means that investors participating in the IPO may anticipate a profit of over 180% on the day of listing.
The final allotment of shares will be on December 21, 2023, and the shares will be listed on December 26, 2023.
For retail investors, the maximum bidding limit is 14 lots, with a minimum bid of 1 lot. Each lot consists of 250 shares, requiring a minimum investment of Rs 13,750.
Motisons Jewelers’ shares will be listed on both the Bombay Stock Exchange and National Stock Exchange platforms.
Established in October 1997, the company specializes in selling gold, diamond, and kundan jewelry. Additionally, they offer jewelry made from pearls, silver, platinum, and other metals.
