Through the IPO, the company plans to raise about Rs 130 crore, of which Rs 58 crore will be used to repay loans availed by the company from scheduled commercial banks, and Rs 71 crore for funding working capital requirements, besides general corporate purposes.
The company had filed preliminary IPO papers with SEBI in September last year.
The issue has a face value of Rs 10 per equity share for the proposed share sale.
The company, in consultation with its lead banker, may consider a pre-IPO placement of up to 60,00,000 equity shares to anchor investors.
Motisons Jewellers started operations in 1997 with a showroom in Johri Bazaar in Jaipur, Rajasthan.
Currently, it has 4 showroom networks under the “Motisons” brand, located across Jaipur, with the most recent outlet opened in the year 2021. Its manufacturing facilities are located at Sitapura Industrial area and Bapu Nagar, Jaipur.It primarily sources finished jewellery from third-party suppliers located across India and its business involves sale of jewellery made of gold, diamond, kundan and sale of other jewellery products that include pearl, silver, platinum, precious, semi-precious stones and other metals across multiple prominent locations in Jaipur, Rajasthan.
The jeweller launched its website in 2011 and commenced online sales in 2018. It also arranges virtual appointments to assist its customers.
Motisons clocked a profit of Rs 14.75 crore in FY22 compared with Rs 9.67 crore in the previous year. Its profit for the six-month period ended September 2022 stood at Rs 10 crore with a revenue of Rs 162 crore.
Holani Consultants is the sole book-running lead manager to the issue and Link Intime India Private Limited is the registrar to the issue.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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