10 Things to Know About Motions Jewelers IPO Before Subscribing to the Rs 151 crore Issue

 10 Things to Know About Motions Jewelers IPO Before Subscribing to the Rs 151 crore Issue

 10 Things to Know About Motions Jewelers IPO Before Subscribing to the Rs 151 crore Issue

Motions Jewelers Initial Public Offering (IPO): The Rs 151 crore offering solely includes a 2.75 crore equity share new issue tranche.

Subscriptions for the IPO will begin on December 18.

On December 18, subscriptions for Motions Jewelers, a Jaipur-based company, could be made. There are only 2.75 crore equity shares in the Rs 151 crore offering, which is the sole new issue tranche.

Prior to accepting the offer, be aware of the following 10 important points:

1.) The date of the IPO

Subscriptions for the IPO began on December 18, 2023, and it will end on December 20, 2023.

2.) The Price Range

The issue's price range is set at Rs 52–55 per share.

3.) Offer Specifics

The retail jeweler plans to sell a new issuance of 2.74 lakh shares in an initial public offering (IPO) to garner Rs 151 crore. The business received Rs 36.3 crore from two anchor investors on December 15 in advance of the IPO. Zinnia Global Fund PCC-Cell Ducap Fund purchased 20 lakh shares, while Meru Investment Fund PCC-Cell 1 purchased 46 lakh equity shares for Rs 25.3 crore. Cost: 11 crore rupees.

15% of the planned size is set aside for HNIs and 50% is designated for QIBs.

4.) The issue's objectives

The business plans to use Rs 58 crore of the net proceeds from the latest offer towards debt reduction and Rs 71 crore towards working capital needs. The remainder will be kept for its general company needs.

5.) Dimensions of the Lot

Following the minimum of 250 equity shares, investors may bid in multiples of 250. Retail investors would thus need to spend a minimum of Rs 13,000 (250 (lot size) x 52 (lowest price band)). The bid amount would rise to Rs 13,750 at the highest level.

6.) Overview of the Company

The firm was founded in October 1997 and offers jewelry made of gold, diamonds, and kundan. Pearls, silver, platinum, and other metals are also sold by motisans.

Motisons Jewellers' main shop is situated at Motisons Tower in Jaipur, Rajasthan. The newest location, which debuted in 2021, is situated in Jaipur's southwest in the Vaishali Nagar area.

7.) Monetary

For the fiscal year that ended in March of FY23, Motions' net profit climbed by 50.5% to Rs 22.2 crore, while its operating revenue improved by 16.5% to Rs 366.2 crore.

8.) Supervisor of Leads

The only merchant banker for the offering is Holani Consultants, while Link Intime India is the registrar for the offer.

9.) Danger

i.) Because Motison's four showrooms are situated in Jaipur, any unfavorable development in the region might have a negative impact on the company's operations, finances, prospects, and business.

ii.) Motisons's product supply is reliant on other parties. The Company's business and financial situation can be harmed by the interruption and its inability to maintain or create formal agreements with such third parties.

10.) Date of Listing

The BSE and NSE will list Motisons Jewelers initial public offering (IPO), with a provisional listing date of Tuesday, December 26, 2023.