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On Monday, December 18, 2023, Motisons Jewellers is scheduled to open its initial public offering (IPO) for bids. The target price range for the company’s shares is between Rs 52 and Rs 55 per share, with a lot size of 250 equity shares and multiples after that. The deadline for investors to enter the bidding is Wednesday, December 20.

Motisons Jewellers was founded in October 1997 and specializes in selling a wide variety of other jewelry items as well as gold, diamond, and kundan jewelry. The company has a wide range of products, including combination, modern, and traditional designs in a number of jewelry categories. Motisons Tower, the company’s flagship store, is situated in Jaipur, Rajasthan.

With the issue of 27,471,000 new equity shares, Motisons Jewellers hopes to raise a total of Rs 151.09 crore through its primary stake sale. The net proceeds of the initial public offering (IPO) will be applied toward general corporate needs, working capital requirements, and the repayment of current loans from scheduled commercial banks.

Because the company is giving 66 lakh equity shares to two funds at a price of Rs 55 apiece, Motisons Jewellers was able to raise slightly more than Rs 36 crore from anchor investors. PCC-Cell 1 of Meru Investment Fund PCC-Cell Zinnia Global Fund Dewcap Fund took part in the book that was linked.

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