Fine jewellery brand Motisons Jewellers will launch its initial public offering on December 18 and close it on December 20. The business plans to carry out the IPO with a completely fresh issue of 2.71 crore shares.
The business will carry out its allocation to anchor investors on December 15, ET Markets reported. Motisons Jewellers filed its draft red herring prospectus in March 2023 then got the go-ahead from the regulator in September. The business raised Rs 33 crore in a pre-IPO funding round in October.
Motisons Jewellers plans to use Rs 58 crore of the IPO total to repay debts, ET Bureau reported. The business also plans to put Rs 71 crore from the IPO towards funding working capital requirements and use some of the funds for general corporate purposes.
Approximately 50% of the IPO’s offer has been reserved for qualified institutional buyers. The remaining 35% and 15% have been reserved for retail investors and for non-institutional investors, respectively.
Motisons Jewellers is based in Jaipur and runs four exclusive brand outlets in the area including one flagship store, according to its website. The business specialises in gold and diamond jewellery in traditional designs such as Kundan.
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