Motisons Jewellers has fixed a price band of Rs 52-55 for its IPO, which opens for subscription on December 18. The issue will close on December 20.
At the upper end of the price band, the company plans to raise Rs 151 crore. Investors can bid for a minimum of 250 shares in one lot and in multiples thereafter.
The IPO is completely a fresh equity issue of 2.71 crore shares.
About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
Proceeds from the issue will be utilised to the extent of Rs 58 crore for debt payment, Rs 71 crore for funding the working capital requirement of the company and a portion will also be used for general corporate purposes.
In October this year, the Jaipur-based retail jeweller raised Rs 33 crore in its pre-IPO funding round.
Motisons Jewellers is a hyperlocal jewellery retail chain in Jaipur with four showrooms (inclusive of one flagship showroom). The company primarily sources finished jewellery from third-party suppliers across India and its business involves sale of jewellery made of gold, diamond, kundan etc.
The product portfolio comprises over 300,000 jewellery designs, including a wide range of gold, diamond and other jewellery products across different price points.
For the three months ended June, the company clocked a revenue of Rs 86.7 crore and a profit of Rs 5.47 crore. In FY23, its revenue from operations rose 16% year-on-year (YoY) to Rs 366 crore, while profit jumped 51% to 22.19 crore.
Holani Consultants is the sole book-running lead manager to the issue and Link Intime India Private Limited is the registrar.
The share allotment for the IPO will be done on December 21 and the tentative listing date is December 26.
