Tuesday was a very important day for companies going public on the stock market.
Many companies, including Motisons Jewellers, had their shares listed.
The Motisons Jewellers’ IPO was a big success, making investors earn a lot of money right after it started trading.
The value of the shares doubled on the first day. On the NSE, the shares were listed at Rs 109, which is 98.18 percent higher than expected. On the BSE, they were listed at Rs 103.90 per share.
Experts predicted a strong listing, thinking the Motisons Jewelers IPO could be between Rs 115 to Rs 125 per share.
They expected the shares to be listed at a premium of 135 percent. Although the actual listing was lower than expected, investors still made significant profits.
There was a great response from investors, with the IPO being subscribed many times over in all categories.
Qualified institutional buyers subscribed 135.01 times, non-institutional buyers subscribed 311.99 times, and retail investors subscribed 135.60 times.
Overall, the IPO was subscribed 173.23 times. The IPO was open for investors from December 18 to December 20, with a share price range of Rs 52 to Rs 55. Investors could buy a lot of up to 250 shares at once.
The size of Motisons Jewelers IPO was Rs 151 crore. Fifty percent of the shares were reserved for qualified institutional buyers, 15 percent for non-institutional buyers, and 35 percent for retail investors.
Motisons Jewelers, a well-known jewelry brand from Jaipur, deals in gold, diamond, and kundan jewelry.
Established in 1997, the company plans to use the funds raised through the IPO for working capital, general corporate purposes, and repaying loans.
