Motisons Jewellers IPO allotment finalised: Check application status, latest GMP

The basis of allotment for Motisons Jewellers' initial public offering (IPO) has been finalised, and investors can now check their application status. The IPO, which was open for subscription from December 18 to December 20, was subscribed over 173 times.

It may be noted that the price band for the IPO was set at Rs 52-55 per share. The company is expected to debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 26.

Latest GMP

Market observers report a Grey Market Premium (GMP) of Rs 81 per share, indicating an estimated listing price of Rs 135, representing a 145.45 per cent premium over the issue price of Rs 55. However, GMP is not always an accurate indicator of the market listing.

Check share allotment status

Investors can check the IPO allotment status on the Bombay Stock Exchange (BSE) website or Link Intime, the registrar of the issue.

For BSE, they need to visit the website, click on 'Equity,' select 'Motisons Jewellers,' enter the application number and PAN, and click 'Search.'

On Link Intime, they should choose 'Motisons Jewellers,' enter PAN, application number, DP/Client ID, or Account number/IFSC, complete the captcha, and click 'Submit.'

Brokerage views

It is worth mentioning that brokerage recommendations on the Motisons Jewellers IPO vary. IndSec Research advises cautious subscription, emphasising the IPO's 24.4 times FY23 PE pricing at a 24 per cent discount to industry peers.

Swastika Investmart also recommends cautious subscription, considering Motisons' diversified product portfolio and growth track record. Capital Markets suggests avoiding the IPO, citing concerns about third-party dependence and operational concentration in Jaipur.