- Date : 28/03/2023
- Read: 2 mins
Motisons Jewellers files IPO papers again
In September 2022, Motisons Jewellers filed their preliminary papers with the Securities and Exchange Board of India (SEBI). The company wanted to float its IPO to raise funds. However, SEBI returned the filed papers in December without approving the proposed IPO.
In a fresh bid, Motisons Jewellers has filed the draft IPO papers again. Here are the details of Motisons Jewellers IPO, which is pending SEBI approval –
The IPO will be a fresh issue of equity shares totaling 3.34 crore shares.
Before the IPO opens, Motisons Jewellers might attempt to place 60 lakh shares in the pre-IPO round. Depending on the number of shares subscribed in the pre-IPO round, the IPO size would be adjusted.
Rs.58 crore worth of the IPO funds would be utilized to repay debts. Rs.71 crores would be used to meet the working capital needs of the business, and the remaining funds would be used for other corporate general purposes.
Holani Consultants would act as the merchant banker for the IPO, and the registrar is Link Intime India.
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About Motisons Jewellers
Motisons Jewellers is a leading jewellery house based out of Jaipur. With an operational experience of more than 20 years, the company is run by Sanjay and Sandeep Chhabra. While Sandeep Chhabra is the Whole Time Director and Chairman of the company, Sanjay Chhabra is the Managing Director.
Motisons Jewellers has four showrooms across Jaipur under the brand name ‘Motisons’.
The financial performance of Motisons Jewellers over the last few years is as follows –
While the company has filed its IPO papers again, it remains to be seen what the regulator will do this time around. Meanwhile, the company can do nothing but wait for a green signal to raise funds through the proposed IPO.