Jaipur-based Motisons Jewellers has raised Rs 33 crore ($4 million) in the pre-IPO (initial public offering) round from a host of individual and institutional investors.
The funding round saw participation from Sunil Kothari & Sons, Manish Parakh, Isha Parakh, Manish Parakh HUF, Rajesh Kumar Kabra, Jagdamba Coal House, Prabhudas Lilladhar Advisory Services Private Ltd, Readiprint International LLP and Rajan Propcon Private Ltd.
The pre-IPO placement was undertaken after the approval of the board and shareholders in their meeting held on September 02, 2023, and September 11, 2023, respectively.
Motisons Jewellers is managed by second-generation entrepreneurs Sandeep Chhabra and Sanjay Chhabra, It began operations in 1997 by opening a showroom in Johri Bazaar in Jaipur, Rajasthan.
The company currently has four stores in Jaipur housing a product portfolio if over 300,000 plus jewellery designs.
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