Motisons Jewellers Shares Soar in Stock Market Debut, Lists with 98% Premium
Shares of Motisons Jewellers Ltd on Tuesday listed with a huge premium of over 98 per cent against the issue price of Rs 55.
New Delhi, December 26: Shares of Motisons Jewellers Ltd on Tuesday listed with a huge premium of over 98 per cent against the issue price of Rs 55.
The stock made its debut at Rs 103.90, up 88.90 per cent from the issue price on the BSE. Later, it zoomed 98.34 per cent to Rs 109.09. After Bumper Response to IPO, Motisons Jewellers Shares List at 98% Premium Over Issue Price.
At the NSE, the stock listed at Rs 109, reflecting a sharp jump of 98.18 per cent. The company's market valuation stood at Rs 994.30 crore during the early trade. Motisons Jewellers' initial public offer was subscribed a whopping 159.61 times on the last day of share sale on Wednesday. Motisons Jewellers IPO: Here's How You Can Check Your Allotment Status.
The Rs 151-crore initial share sale of the Jaipur-based retail jeweller company had a price range of Rs 52-55 a share. The public issue was entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component.
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