Investors who participated in the Motisons Jewellers IPO bidding process are now waiting eagerly to find out whether they have been allotted shares of the company. Here is a step-by-step guide to check allotment status.
Motisons Jewellers IPO garnered a spectacular response from investors.
The initial public offering (IPO) of Motisons Jewellers was a grand success as it garnered a strong response across all categories of investors. On the final day, it was subscribed over 173 times, singalling strong interest from investors.
The Jaipur-based jewellery brand opened for subscription on December 18, 2023, with shares priced in the range of Rs 52-55 each.
Investors who participated in the IPO bidding process are now waiting eagerly to find out whether they have been allotted shares of Motisons Jewellers.
The basis of allotment for the IPO is likely to be finalised today, following which investors can check their application status on the Bombay Stock Exchange (BSE) and Link Intime, which is the registrar of the issue.
Via BSE:
Visit the BSE website.
Click on 'Equity' and select ‘Motisons Jewellers’ from the dropdown menu.
Enter the application number and PAN.
Click on 'Search.'
Via Link Intime:
Visit the registrar’s website here.
Click on ‘Select Company’ and choose ‘Motisons Jewellers.’
Enter PAN, application number, DP/Client ID, or Account number/IFSC.
Enter the captcha and click on submit.
Latest GMP
Market observers report a Grey Market Premium (GMP) of Rs 81 per share, suggesting an estimated listing price of Rs 136, a 147.27 per cent premium over the issue price of Rs 55. It may be noted that GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges and they are not always an accurate indicator of market listing.
Brokerage views
Brokerage recommendations on the Motisons Jewellery IPO vary.
IndSec Research advises a cautious subscription, highlighting 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.
Other details
Established in October 1997, Motisons Jewellers specialises in crafting gold, diamond, and kundan jewelry.
The brand offers a diverse collection, featuring traditional, modern, and fusion designs. With over 300,000 designs, Motisons Jewellers caters to various occasions, providing a wide array of jewelry suitable for all ages and genders. The company's flagship store, Motisons Tower, is located in Jaipur.
Published By:
Koustav Das
Published On:
Dec 21, 2023