12-Dec-2023
2 mins read
Motisons Jewellers is gearing up for its Initial Public Offering (IPO), estimated at Rs 151.09 crore, featuring a new issue of 2.75 crore shares. The subscription period for the IPO is set to begin on December 18, 2023, and conclude on December 20, 2023. The finalization of share allocation is anticipated by December 21, 2023. The company aims to make its shares available on both the BSE and NSE, targeting a provisional listing date of December 26, 2023. The IPO’s price band is set between Rs 52 and Rs 55 per share, requiring a minimum investment of Rs 13,750 for retail investors, translating to 250 shares. For small Non-Institutional Investors (sNII), the minimum lot size is 15 lots, equivalent to 3,750 shares or Rs 206,250. For big Non-Institutional Investors (bNII), it is 73 lots, or 18,250 shares, amounting to Rs 1,003,750. Holani Consultants Private Limited serves as the book-running lead manager for the Motisons Jewellers IPO, while Link Intime India Private Ltd is appointed as the registrar for the issue.
Motisons Jewellers Product Portfolio
Motisons Jewellers Limited, founded in October 1997, specializes in various jewellery products, including gold, diamonds, Kundan, and other materials like pearl, silver, platinum, and various metals. The company’s extensive product line features a mix of traditional, contemporary, and blended designs, catering to various occasions such as weddings and festivals and everyday wear suitable for all ages and genders. This range is available across multiple price points. Their premier store, the ‘Motisons Tower’, is situated in Jaipur, Rajasthan, covering a vast area of 16,002.06 Sq Ft. This flagship store is spread over three floors, each dedicated to specific types of jewellery like silver, gold, and diamond. Adding to their retail presence, Motisons Jewellers opened a new outlet in 2021, located in the upscale Vaishali Nagar area in the southwestern part of Jaipur. The company prides itself on its strategic showroom locations and a diverse product range. With a legacy that extends over two decades, Motisons Jewellers has developed efficient systems and procedures that help in risk mitigation, underlining their competitive strengths in the jewellery market.
The Objectives of Motisons Jewellers Limited IPO
Motisons Jewellers Limited intends to allocate the net proceeds from the Fresh Issue for several key financial strategies. Primarily, the funds will be used to repay the current debts that the company has incurred from various scheduled commercial banks. Additionally, a significant portion of these proceeds is earmarked for supporting the company’s working capital needs. Lastly, a part of the funds will be allocated for general corporate purposes, aiding in the overall growth and development of the company’s operations.
Financial Performance of Motisons Jewellers Limited IPO (In Rs Crore)
| Period Ended | 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 348.13 | 336.51 | 306.53 | 275.42 |
| Revenue | 86.76 | 366.81 | 314.47 | 213.06 |
| Profit After Tax | 5.48 | 22.2 | 14.75 | 9.67 |
| Net Worth | 142.81 | 137.4 | 115.45 | 100.96 |
| Total Borrowing | 166.03 | 164.54 | 151.6 | 141.43 |
Important Dates for Motisons Jewellers Limited IPO
| IPO Date | December 18, 2023 to December 20, 2023 |
| Listing Date | Yet to be announced |
| Face Value | Rs 10 per share |
| Price Band | Rs 52 to Rs 55 per share |
| Lot Size | 250 Shares |
| Total Issue Size | 27,471,000 shares (Aggregating up to Rs 151.09 Cr) |
| Fresh Issue | 27,471,000 shares |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 70,975,000 |
| Shareholding post issue | 98,446,000 |
Timetable of Motisons Jewellers Limited IPO
| IPO Open Date | Monday, December 18, 2023 |
| IPO Close Date | Wednesday, December 20, 2023 |
| Basis of Allotment | Thursday, December 21, 2023 |
| Initiation of Refunds | Friday, December 22, 2023 |
| Credit of Shares to Demat | Friday, December 22, 2023 |
| Listing Date | Tuesday, December 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 20, 2023 |
Key Performance Indicator of Motisons Jewellers Limited IPO
| KPI | Values |
| P/E (x) | 24.39 |
| ROE | 17.56% |
| ROCE | 30.04% |
| Debt/Equity | 3.32 |
| EPS (Rs) | 3.42 |
| RoNW | 16.15% |
IPO Reservation of Motisons Jewellers Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Anchor Investors Details of Motisons Jewellers Limited IPO
The Initial Public Offering (IPO) of Motisons Jewellers successfully garnered Rs 36.30 crore from anchor investors. The anchor investment phase of the IPO took place on December 15, 2023.
| Bid Date | 15-Dec-23 |
| Shares Offered | 6,600,000 |
| Anchor Portion Size (In Rs Cr) | 36.3 |
| Anchor lock-in period end date for 50% shares (30 Days) | 2-Feb-24 |
| Anchor lock-in period end date for remaining shares (90 Days) | 26-Apr-24 |
IPO Reservation of Motisons Jewellers Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Promoters of Motisons Jewellers Limited IPO
The promoters of the company are Sandeep Chhabra, Sanjay Chhabra, Namita Chhabra, Kajal Chhabra, Moti Lal Sandeep Chhabra HUF, Sandeep Chhabra HUF and Sanjay Chhabra HUF.
Promoter Holding of Motisons Jewellers Limited IPO
| Shareholding Pre Issue | 91.55% |
| Shareholding Post Issue |
Motisons Jewellers Limited IPO Lead Manager(s)
The lead manager for Motisons Jewellers Limited IPO is Holani Consultants Private Limited.
How to Apply for Motisons Jewellers Limited IPO
Wait for the public issue to open for subscription, then click on this link to apply for the Motisons Jewellers Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check the Allotment Status of Motisons Jewellers Limited IPO
The registrar for Motisons Jewellers Limited IPO is Link Intime India Private Ltd. To check your allotment status, please click on this link https://linkintime.co.in/
FAQs
- What is the value and issue size of the Motisons Jewellers Limited IPO?
The IPO is valued at Rs 151.09 crore, featuring a fresh issue of 2.75 crore shares.
- When will the Motisons Jewellers IPO open and close for subscription?
The open and close dates of Motisons Jewellers Limited IPO are 18 Dec 2023 and 20 Dec 2023.
- What is the price band for the IPO?
The price band is between Rs 52 and Rs 55 per share.
- How can retail investors participate in the IPO?
Retail investors can apply with a minimum investment of Rs 13,750, which corresponds to 250 shares.
- Where will Motisons Jewellers Limited IPO be listed?
The IPO will be listed on both the BSE and NSE.
- Who are the lead managers and registrar for the IPO?
Holani Consultants Private Limited is the lead manager, and Link Intime India Private Ltd is the registrar.
- How can I apply for the Motisons Jewellers Limited IPO?
You can apply for the IPO through the Bigul platform at Bonanza Online IPO Application.
- How can I check the allotment status of the IPO?
Allotment status can be checked on Link Intime India’s website at Link Intime IPO Allotment Status.
- What is the allotment date for the Motisons Jewellers Limited IPO?
The allotment of the IPO is expected to be finalised on December 21, 2023.
- What is the listing date for the Motisons Jewellers Limited IPO?
The tentative listing date is December 26, 2023.
- What is the cut-off time for UPI mandate confirmation for the IPO?
The cut-off time is 5 PM on December 20, 2023.
- What is the promoter holding post-issue?
The exact post-issue promoter holding will be updated after the IPO.
- Who are the promoters of Motisons Jewellers Limited?
The promoters include Sandeep Chhabra, Sanjay Chhabra, Namita Chhabra, Kajal Chhabra, and their respective HUFs.