Key Points of Motisons Jewellers Upcoming IPO:
- Motisons Jewellers, a retail jeweller based in Jaipur, has filed a draft red herring prospectus with SEBI to raise funds through an IPO.
- The company plans to issue 3,34,71,000 shares and aims to raise around Rs 130 crore.
- Rs 58 crore of the funds raised will be used to repay loans from scheduled commercial banks, while Rs 71 crore will be allocated for working capital requirements and general corporate purposes.
- The company had filed preliminary IPO papers with SEBI in September 2022.
- The company’s shares have a face value of Rs 10 per equity share for the proposed sale.
- Motisons Jewellers may consider a pre-IPO placement of up to 60,00,000 equity shares to anchor investors in consultation with its lead banker.
- Motisons Jewellers was founded in 1997 with a showroom in Johri Bazaar, Jaipur, and currently has four showroom networks under the “Motisons” brand in Jaipur.
- The company primarily sources finished jewellery from third-party suppliers based in India and has a strong presence across multiple prominent locations in Jaipur.
Details of Motisons Jewellers Upcoming IPO:
Jaipur-based Motisons Jewellers, a leading retail jeweller, has recently filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company is planning to issue 3,34,71,000 shares as part of the IPO, with a target to raise approximately Rs 130 crore. Of this amount, Rs 58 crore will be used to repay loans from scheduled commercial banks, while Rs 71 crore will be allocated for working capital requirements and general corporate purposes.
Motisons Jewellers had initially filed preliminary IPO papers with SEBI back in September 2022. The company’s shares have a face value of Rs 10 per equity share for the proposed sale. Additionally, the company may consider a pre-IPO placement of up to 60,00,000 equity shares to anchor investors in consultation with its lead banker.
Founded in 1997, Motisons Jewellers started its operations with a showroom in Johri Bazaar, Jaipur. Today, it boasts four showroom networks across Jaipur under the “Motisons” brand, with the latest outlet opened in 2021. The company’s manufacturing facilities are located at Sitapura Industrial area and Bapu Nagar, Jaipur.
Motisons Jewellers primarily sources finished jewellery from third-party suppliers based in India. The company’s business involves the sale of various types of jewellery, including gold, diamond, kundan, pearl, silver, platinum, precious and semi-precious stones, and other metals. It has a strong presence across multiple prominent locations in Jaipur, Rajasthan.
Motisons Jewellers launched its website in 2011 and commenced online sales in 2018. The company also arranges virtual appointments to assist its customers. In the financial year 2021-22, the company’s profit was Rs 14.75 crore, compared to Rs 9.67 crore in the previous year. Its profit for the six-month period ended September 2022 was Rs 10 crore, with a revenue of Rs 162 crore.
The sole book-running lead manager to the issue is Holani Consultants, while Link Intime India Private Limited is the registrar to the issue. Overall, the IPO is set to provide a significant boost to Motisons Jewellers’ expansion plans, helping the company continue to grow and thrive in the competitive Indian retail jewellery market.
About Motisons Jewellers:
Motisons Group is a well-known brand in the business world of Jaipur. It started as a jeweller in 1998 and quickly gained a reputation as one of the most distinguished brands not just in Jaipur but throughout the country. The company is renowned for crafting some of the most splendid pieces of jewellery.
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