Motisons Jewellers Shines on BSE Debut, Shares Soar 98% Premium

Jaipur-based Motisons Jewellers celebrated a remarkable debut on the Bombay Stock Exchange, showcasing a remarkable 98% premium over the issue price of ₹55.

The stock quickly surged to an all-time high of ₹109 shortly after its debut, reflecting an impressive hike of 98.34%. As of the latest update, Motisons Jewellers shares are actively traded at ₹100.45 per share. Simultaneously, at the National Stock Exchange, the stock opened at ₹109, marking a substantial leap of 98.18%. The market valuation of Motisons Jewellers during early trade reached ₹994.30 crore.

Motisons Jewellers IPO Overview:

Motisons Jewellers had launched a ₹151-crore Initial Public Offering (IPO) with a price range of ₹52-55 per share. The IPO consisted solely of a fresh issue of 2.74 crore equity shares, with no Offer For Sale (OFS) component.

The IPO witnessed an overwhelming response, with a subscription rate of 159.61 times on the final day of share sale. Bids for 3,33,11,48,000 shares were received against the 2,08,71,000 shares on offer, as reported by NSE data.

Suraj Estate Developers' Market Debut:

In contrast, Suraj Estate Developers experienced a decline of nearly 6% from its IPO price of ₹360 during its debut on the exchanges.

The Suraj Estate stock made its market entry at ₹343.80, marking a 4.5% discount from the IPO price. Subsequently, the shares observed a 10% drop to ₹323.95. On the NSE, the stock listed at ₹340, reflecting a 5.88% decrease.

Suraj Estate Developers' IPO attracted a subscription rate of 15.65 times on the closing day of bidding.

Motisons Jewellers' stellar debut on the BSE is indicative of strong investor confidence and a positive market reception. The surge in share value underscores the company's robust market position and potential growth. As the financial landscape continues to evolve, these market developments contribute to the dynamic and ever-changing nature of the stock market.