Motisons Jewellers IPO to open on Dec 18; sets price band at Rs 52-55 per share

New Delhi: Motisons Jewellers on Tuesday said it has fixed a price band of Rs 52 to 55 a share for its initial public offering that will open on December 18.

The Jaipur-based retail jewellery company's issue will open on December 18 and close on December 20.

The Initial Public Offering (IPO) is entirely a fresh issue of 2.74 crore equity shares and there is no Offer For Sale (OFS) component.

At the upper end of the price band,  the IPO will fetch Rs 151 crore.

Proceeds from the issue will be used for debt payment, funding the working capital requirement of the company and a portion will also be used for general corporate purposes.

Investors can bid for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter.

Holani Consultants is the book-running lead manager for the issue. The equity shares are proposed to be listed on BSE and NSE.

In October, the company garnered Rs 33 crore in its pre-IPO funding round.