Motisons Jewellers stock skyrockets over 98% in debut trade

New Delhi: Shares of Motisons Jewellers Ltd on Tuesday listed with a huge premium of over 98 per cent against the issue price of Rs 55.

The stock made its debut at Rs 103.90, up 88.90 per cent from the issue price on the BSE. Later, it zoomed 98.34 per cent to Rs 109.09.

At the NSE, the stock listed at Rs 109, reflecting a sharp jump of 98.18 per cent.

The company's market valuation stood at Rs 994.30 crore during the early trade.

Motisons Jewellers' initial public offer was subscribed a whopping 159.61 times on the last day of share sale on Wednesday.

The Rs 151-crore initial share sale of the Jaipur-based retail jeweller company had a price range of Rs 52-55 a share.

The public issue was entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component.