Motisons Jewellers Limited’s Initial Public Offering to open on Monday, December 18, 2023, sets price band at ₹52 to ₹55 per Equity Share

L-R : Mr. Sanjay Chhabra, MD, Motisons Jewellers Ltd., Mr. Sandeep Chhabra, Chairman, Mr. Laksh Chhabra, JT Managing Director & Mr. Kaustubh Chhabra, CFO, Motisons Jewellers Ltd., the Promoters Chhabra family at the IPO launch Press Meet.

Mumbai, December, 12, 2023: Jaipur-based hyperlocal jewellery retail chain, Motisons Jewellersfocuses on offering designs, high quality, transparency and customer service to its customers, has fixed the price band at ₹52 to ₹55 per Equity Share for its maiden initial public offer.  The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, December 18, 2023, for subscription and close on Wednesday, December 20, 2023. Investors can bid for a minimum of 250 Equity Shares and in multiples of 250 Equity Shares thereafter. 

The Public Issue of face value of ₹10 per Equity Share is entirely a fresh issue of up to 2,74,71,000 equity Shares with no Offer for Sale (OFS) component. 

Motisons Jewellers is managed by second generation entrepreneurs, Sandeep Chhabra, Chairman & Whole Time Director and Sanjay Chhabra, Managing Director, sons of Late Moti Lal Chhabra, who have over two decades’ years of expertise in the jewellery industry. 

Its other offerings include gold and silver coins, utensils and other artifacts. It had commenced its business through a partnership firm 'M/s Motisons Jewellers' in 1997 and subsequently converted into public limited company in 2011 and currently have presence across multiple prominent locations in Jaipur, Rajasthan.  

 

Motisons started its jewellery business in 1997 with a single showroom in Jaipur, Rajasthan. Its first outlet, famously known as the ‘Traditional Store’ was set up amidst the famous lanes of the busiest Johri Bazaar, renowned jewellery hub in the heart of the city. 

It primarily sources finished jewellery from third party suppliers located across India and its business involves sale of jewellery made of gold, diamond, kundan and sale of other jewellery products that include pearl, silver, platinum, precious, semi-precious stones and other metals, gold and silver coins, utensils and other artifacts across multiple prominent locations in Jaipur, Rajasthan. 

Its product portfolio comprises of over 300,000+ jewellery designs that includes traditional, contemporary and combination designs for special occasions such as weddings and festivals to daily wear jewellery for all ages, genders and across various price points. 

Holani Consultants Private Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE. 

Notes for Reference:  

Issue Size of the IPO based on the upper and lower end of the price band 

 

Fresh (2,74,71,000 equity shares) 

Lower Band (@ Rs 52) 

Rs 142.85 crore 

Upper Band (@Rs 55) 

Rs 151.09 crore